Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
12th Edition
ISBN: 9780134078779
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
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Chapter 12, Problem 3.5P
To determine

Externalities and market failure.

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Explain the difference between a positive externality and a negative externality. Can both types of externalities result in market failure? Why or why not?
Identify at least one positive and negative externality from running a hamburger shop.  What is one example of how an externality could affect the price of your hamburger?
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