Please identify 3 situations in the last year in which you have experienced a po
ID: 1245993 • Letter: P
Question
Please identify 3 situations in the last year in which you have experienced a positive or negative externality. Discuss EXACTLY what the external cost or benefit is, and place a monetary value on the worth of the cost or benefit you experienced. For one of the 3 situations you have described, please imagine that there are exactly 1000 people in your community and all experience the same externality that you do, and have the same valuation of the externality that you do. If the government were to attempt to deal the externality in some way, should the government tax the producer, or subsidize the consumer? How much should the tax or subsidy be?Explanation / Answer
You can go through the following link to understand what your question is about in a very approximate reach.... http://hspm.sph.sc.edu/courses/ECON/Externality/index.html