FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a)What is an externality? Give one example of a positive and one example of a negative externality. Explain why your examples are externalities.(3 marks) b)Why

a)What is an externality? Give one example of a positive and one example of a negative externality. Explain why your examples are externalities.(3 marks)

b)Why does a negative externality create a market failure and how can this market failure be solved by the government?Fully explain your answer.(7 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics Today The Macro View

Economics Today The Macro View

Authors: Roger LeRoy Miller

18th Edition

0133884872, 978-0133884876

More Books

Students also viewed these Economics questions

Question

★★★★★
Suppose x = the number of courses a randomly selected student at a certain university is taking. The probability distribution of x appears in the following table: a. What is P( x = 4)? b. What is P(...

Answered: 1 week ago

Question

★★★★★
How does the typing system of PHP and JavaScript differ from that of Java?

Answered: 1 week ago

Question

★★★★★
1. Whats your opinion, Joel? or Does anyone have another opinion?

Answered: 1 week ago

Question

★★★★★
Methanol is to be delivered to a process unit at a rate of 15.0k mol/h by a stream that is 30.0 mole% methanol and 70.0mole% propane. Estimate the volumetric flow rate of this stream at 10.0 atm and...

Answered: 1 week ago

Question

★★★★★
Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. Apr. 1 sold merchandise for...

Answered: 1 week ago

Question

★★★★★
29. Determine the amplitude, period, midline, and an equation involving cosine for the graph shown in Figure 32.30. Determine the amplitude, period, midline, and an equation involving sine for the...

Answered: 1 week ago

Question

★★★★★
The balance sheet for Quinn Corporation is shown here in market value terms. There are 6,000 shares of stock outstanding. Market Value Balance Sheet Cash Fixed assets $45,500 490,000 Equity $535,500...

Answered: 1 week ago

Question

★★★★★
ZARA, a Spanish fashion giant, has redefined fast fashion. Founded in 1 9 7 5 by Amancio Ortega, ZARA boasts over 2 , 0 0 0 stores in 9 6 countries, a testament to its rapid global expansion. Their...

Answered: 1 week ago

Question

★★★★★
Question 4 (10 points) Listen Base on the video "United Breaks Guitar" by Dave, answer the following questions: Look up on internet and describe what has impact on United Airlines after this song...

Answered: 1 week ago

Question

★★★★★
Analyze the external country market elements of China found in the case. List five solid bullets for each aspect: Political, Economic, Social, Technological

Answered: 1 week ago

Question

★★★★★
What are some elements of your identity that you feel are obvious to other people?

Answered: 1 week ago

Question

★★★★★
What Washington State agency or organization has the most major cartographic & imagery resources (along with GIS software) available on the internet? Group of answer choices The University of...

Answered: 1 week ago

Question

★★★★★
6. What information processes operate in communication situations?

Answered: 1 week ago

Question

★★★★★
3. How can we use information and communication to generate trust?

Answered: 1 week ago

Question

★★★★★
4. How can we use information and communication to influence other people?

Answered: 1 week ago

Previous Question Next Question