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Chapter 11 Externalities and Public Goods The role of Government

Chapter 11 Externalities and Public Goods The role of Government. Externalities and Public Goods. Externalities: Take different forms E.g. External costs of production, pollution Steel Factory S(K,L), output increases in K and L: S(+,+) But S(K,L) = S+DW. Fishery F(L,DW)=F

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