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Answer the following questions: 1. What are externalities? 2. Explain positive externalities. 3. Explain the term Price Floor. 4. What are the 4 possible reactions

Answer the following questions:

1. What are externalities?

2. Explain positive externalities.

3. Explain the term Price Floor.

4. What are the 4 possible reactions to raising the minimum wage?

5. What is “Shadow Unemployment?”

6. What are some Externalities of Rent Control?

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