z. The market will tend to underallocate resources to the production of goods with external benefits and

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z. The market will tend to underallocate resources to the production of goods with external benefits and overallocate resources to those products that generate external costs.

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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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