Explain how government policies are used to deal with external costs and benefits.
-What policies can be used to internalize externalities? Draw diagrams to illustrate your answer.
Correct Answer:
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Q13: Whats defention of terms:
-transactions costs
Q14: Define and describe different types of market
Q15: Distinguish between private and public goods, and
Q16: Distinguish between private and public goods, and
Q17: Distinguish between private and public goods, and
Q19: Explain how government policies are used to
Q20: Understand the principles of taxation.
-Define the benefits-received
Q21: Understand the principles of taxation.
-In many states,
Q22: Understand the principles of taxation.
-Many states have
Q23: Define the free rider problem and why
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