Consider each of the following activities or events and say for each one whether it creates an

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Consider each of the following activities or events and say for each one whether it creates an externality. If so, say whether it creates an external benefit or external cost and whether the externality arises from production or consumption.
• Airplanes take off from LaGuardia Airport during the U.S. Open tennis tournament, which is taking place nearby.
• A sunset over the Pacific Ocean
• An increase in the number of people who are studying for graduate degrees
• A person wears strong perfume to class.
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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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