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You have just been appointed as the County Commissioner of Hazard County. After your first day of work, you realize that many people talked to
You have just been appointed as the County Commissioner of Hazard County. After your first day of work, you realize that many people talked to you about externalities that day. Based on your conversations today and your economics experience, you conclude that when externalities are present, the free market outcome is not efficient Furthermore, you conclude that when there are negative externalities present, free markets , and when there are positive externalities present, free markets produce too much produce too little Price = O+ 0 1 2 3 4 5 6 7 8 9 10 Quantity
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