Question
You will need to find an article on Externalities that correspond to ONE of these industries: Manufacturing,Healthcare, Energy, Oil/Gas, Transportation, or Agriculture; be sure to
You will need to find an article on Externalities that correspond toONEof these industries: Manufacturing,Healthcare, Energy, Oil/Gas, Transportation, or Agriculture; be sure to cite your sources. Externalities are defined as the positive or negative consequences of economic activities on unrelated third parties.As a result, the social cost (or benefit) of these activities is different from each individual's cost (or benefit), which mayresult in a market failure.From the article you found you will address the following questions in your initial post:
- Summarize the impact of theexternalityof your chosenindustry (pick only one) and how will it affect social costs or benefits.
- Determine whether these externalities could cause a market failure as defined in your text? If so, will the market failure possibly happen in the short or long run?
- Can you give other industry examples that might also be impacted by thisexternality?
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