Question: What is meant by externalities and public goods? How does a market economy address externalities and public goods? What role, if any, should government have

What is meant by externalities and public goods? How does a market economy address externalities and public goods? What role, if any, should government have in addressing externalities and public goods?

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Externalities are the costs or benefits that are incurred by individuals or groups who are not directly involved in a market transaction They are the spillover effects that impact third parties who ar... View full answer

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