Question: 2. (a) Why the market equilibrium output is lower than the social opti- mal in the case of positive externalities; but higher in the presence

2. (a) Why the market equilibrium output is lower than the social opti- mal in the case of positive externalities; but higher in the presence of negative externalities?

(b) What are some of the potential problems when no one can claim property rights for a good or service?

its microeconomic question not accounting

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