1.3.3 After suffering from three floods in 5 years, Clarice decided to have a new drainage ditch...

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1.3.3 After suffering from three floods in 5 years, Clarice decided to have a new drainage ditch installed at the front of her property. This new ditch not only keeps water from flooding her home, but also channels some of the water away from neighboring properties, where it flows directly into the city sewer. Explain why the installation of the drainage ditch might lead to an inefficient outcome.

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Principles Of Economics

ISBN: 9780802845610

12 Global Edition

Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster

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