1. 10Externalities 2. Recall:Adam Smith’s “invisible hand” of the marketplace leads self-interested buyers and sellers in a market to maximize the total benefit that…
1. 4 THE ECONOMICS OF THE PUBLIC SECTOR 2. 10 Externalities 3. Recall:Adam Smith’s “invisible hand” of the marketplace leads self-interested buyers and sellers in a…
Lecture 1 Principles of Micro Externalities We Will Learn: what an externality is why externalities can make market outcomes inefficient. how people can sometimes solve the…
1. ExternalitiesExternalities Part IPart I 2. • Learn the nature of an externality. • See why externalities can make market outcomes inefficient. • Examine how people…