A group of concerned citizens in a small town are organizing against fracking. Fracking is a technology that allows energy to be extracted from shale formations far underground. Even though fracking promises to increase employment and reduce energy independence, fracking involves the potential pollution of ground water, increased truck traffic, and rather loud drilling processes. These costs are expected to impact people who receive no benefit from the fracking activities. Based on these potential costs to the population at large, what kind of economic argument could be made against fracking? Show this in a fully labeled graph.

Answer rating: 100% (QA)

Fracking is a project that is having negative externaities on to the society And as we know negative externalities lead to market failure outcomes Neg... View the full answer