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Externalities are one of the most common examples of market failure; it is a clear example of how, in a free economy, the pursuit of
Externalities are one of the most common examples of market failure; it is a clear example of how, in a free economy, the pursuit of an economic goal can result in unintentional damaging of another's interests. However, not all externalities are the same. Some are positive while some are not even quantitatively expressed (pecuniary externalities). State a negative no pecuniary externality, with an example.
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