It is said that the consequence of externality is the divergence between private and social costs or
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It is said that the consequence of externality is the divergence between private and social costs or private and social benefits. Carefully explain how this situation occurs when the externality under consideration is to be negative, such as air pollution.
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When the externality under consideration is negative such as air pollution the consequence is a divergence between private and social costs This occurs because the parties responsible for generating t...View the full answer
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Related Book For 
Principles Of Environmental Economics And Sustainability
ISBN: 9780815363545
4th Edition
Authors: Ahmed Hussen
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