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7. For each of the following, list a private cost, an external cost, a private benefit, and an external benefit: a. You pay $8/month for
7. For each of the following, list a private cost, an external cost, a private benefit, and an external benefit:
a. You pay $8/month for a subscription to Spotify and listen to loud music through speakers in your dorm room.
b. You buy a security system for your home that costs $100 and place a "protected by alarm" sticker on your window. Your next-door neighbor does not have such a sticker.
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