Consider an economy which is heavily dependent on tourism. To boost tourist revenue, the government has decided to reclaim the sea to build a theme park at the coastal area. This has resulted in sea pollution, reduces the fish stock and threatens the livelihoods of fishermen in the vicinity. a. Describe the type of externality exists in the scenario. b. Explain with a diagram and highlight the area of the efciency loss. c. Explain the remedial action to rectify the externality