1. Explain in your own words what is meant by external costs and external benefits. Why may...

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1. Explain in your own words what is meant by external costs and external benefits.

Why may market allocations be less than ideal when externalities are present?

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Economics Private And Public Choice

ISBN: 9780123110404

2nd Edition

Authors: James D Gwartney; Richard Stroup; A H Studenmund

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Question Posted: Oct 25, 2024 07:01 AM

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1. Explain in your own words what is meant by external costs and external benefits. Why may...

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Economics Private And Public Choice

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