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What difference between positive and negative externalities

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a) What is an externality?

b) What is the difference between positive and negative externalities? Do both of these constitute economic problems?

c) What is a public good? State two criteria that must be fulfilled for a good to be a public good.

d) What does "free riding" mean? State an example when free riding can be a problem.

Reference no: EM13894457

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