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Questions: 1. [2 points] Give a brief economic explanation for why most farmers use fertilizers even though they know doing so is harmful to the
Questions: 1. [2 points] Give a brief economic explanation for why most farmers use fertilizers even though they know doing so is harmful to the environment. 2. [4 points] Use well-labelled diagrams to illustrate the following. (i) A city decides to shut down few factories in order to improve the air quality. (ii) Due to a positive externality, the market for honey fails to produce at the socially efficient level
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