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In the Fish Waste to Community Wealth article, why was there a negative externality? Question 22 Answer a. Considering just their private costs and benefits,
In the Fish Waste to Community Wealth article, why was there a negative externality? Question 22 Answer a. Considering just their private costs and benefits, fishers discard wastes onto beaches. Residents and marketgoers in the vicinity suffer from stench and unhygenic beaches. Therefore, the marginal social benefits incurred by the surrounding community exceed the marginal private benefits of fishing. b. Considering just their private costs and benefits, fishers discard waste onto beaches. Residents and marketgoers in the vicinity suffer from stench and unhygenic beaches. Therefore, the marginal social costs incurred by the surrounding community exceed the marginal private costs incurred by the fishers. c. There was not a negative externality because the surrounding community was compensated for any damages. d. Considering just their private costs and benefits, fishers discard wastes onto beaches. Residents and marketgoers in the vicinity suffer from stench and unhygenic beaches. Therefore, the marginal social benefits incurred by the surrounding community exceed their marginal social costs
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