Question: Describe the marginal condition for efficiency. (5 marks) Describe the characteristics of public goods. (5 marks) Explain briefly how to internalize a positive externality. (5

  1. Describe the marginal condition for efficiency. (5 marks)
  2. Describe the characteristics of public goods. (5 marks)
  3. Explain briefly how to internalize a positive externality. (5 marks)
  4. Explain briefly how to internalize a negative externality. (5 marks)

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