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1.Briefly explain why a lot of country subsidize education. Try to relate this to the concept of externality and efficiency loss. 1.What is Coase theorem?

1.Briefly explain why a lot of country subsidize education. Try to relate this to the concept of externality and efficiency loss.

1.What is Coase theorem? And explain how the Coase theorem would apply to a meat packing plant and a spring water producer located downstream.

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