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What is the role of government in the economy? Discuss the effect of negative externality in production using diagrams. How does the government address this

What is the role of government in the economy? Discuss the effect of negative externality in production using diagrams. How does the government address this issue? Discuss the effect of positive externality in consumption using diagrams. How does the government address this issue? Why does the market fail in producing common resources? What is the solution? Why does the market fail in producing public goods? What is the solution? In depth explanation

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