a)Give the definition of "externality" and indicate why externalities can result in a failure to achieve equality between social marginal cost and social marginal benefit.Demonstrate your answer with a graph showing external costs.
b)What are the 3 reasons why governments decide to provide quasi-public good?

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The Answer of a)Give the definition of "externality" and indicate why externalities can result in a failure to achieve equality between social marginal cost and social marginal benefit.Demonstrate your answer with a graph showing external costs.
b)What are the 3 reasons why governments decide to provide quasi-public good?

A)Give the Definition of "Externality" and Indicate Why Externalities Can