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Positive production externality from domestic rice

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Reference no: EM132593258

Suppose Nauru is a small country that can import "rice" at the world price. There is a positive production externality from domestic rice production that producers cannot appropriate. Specifically, this means that each unit of rice produced yields a marginal external social benefit. Which of the following policies should be implemented by Nauru to address this market failure if the goal is to maximize social welfare?

Reference no: EM132593258

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