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…

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Slide 14 THE ECONOMICS OF THE PUBLIC SECTOR Slide 2 Copyright©2004 South-Western 10 Externalities Slide 3 Copyright © 2004 South-Western Recall: Adam Smith’s “invisible…

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Slide 1 Externalities Chapter 10 Copyright © 2004 by South-Western,a division of Thomson Learning. Slide 2 Chapter 10 externalities  In this chapter you will  learn…