Please answer questions (Short answers will do, thank you)

Externalities Our communities are filled with externalities, both positive and negative. In the following problems, please identify one of each from your own community, whether it be local or national, and address each of the following: 0 offer a brief context for the externality to give the reader an understanding of the situation o illustrate on the graphs provided the social cost or benefit not addressed in the market place that gives rise to the externality 0 give a brief written explanation of the situation that helps to explain the graph. Make sure to integrate the labels on the graph in your explanation. I describe how the externality has been addressed by the community and/or by the government Example from a local community (Choose any local community suitable) 1. Positive externality: Complete the diagram to illustrate: Price P . . . . Q Quantity Positive Externality Local context: Explanation of graph: How has externality been addressed:Negative Externality: Complete the diagram to illustrate: Price S P . . . . . D Q Quantity Negative Externality Local context: Explanation of graph: How has externality been addressed:Public Goods Public good #1: Identify two public goods provided by the local or national government and provide the following information regarding each: a) why is it non-rivalrous? b) why is it non-excludable? c) why is it a good that needs to be supplied? d) has there been any contention regarding the government funding of this good/service? e) Can you identify any public goods that are not provided by Public good #2: the government? Tragedy of the Example and explanation: Commons[ Common Pool Resources] Briefly describe one scenario from the community or from another experience that exemplifies the concept of tragedy of the commons. Be sure to explain how it connects to the economic theory of a market failure, and give a description of how this market failure has been addressed, if at all, by the community or government in which it exists