Describe a private cost and an external benefit

Reference no: EM131919196

Problem

1. Describe an externality not listed in the chapter. Is it positive or negative? Who is the economic decision maker, and who bears the external cost or benefit?

2. Consider the decision to adopt a dog. Describe a private cost, a private benefit, an external cost, and an external benefit that result from your decision to adopt a dog.

Reference no: EM131919196

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