Without government intervention, (a) in the presence of positive (negative) externality, markets would under allocate (over...

Without government intervention, (a) in the presence of positive (negative) externality, markets would under allocate (over allocate resources) to the good/service in question; and (b) markets will under-allocate resources to public goods. Agree or disagree. Discuss your answers to a. and b. above. 2. Identify and explain an example of each of (i) a public good, (ii) a common-resource good, and (iii) a club good.

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Rahul Sunny answered 11 months ago

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