Using a minimum of 3 sources (articles from major news outlets, academic journal articles, NOT Wikipedia, economics definition sites, nor similar websites), post an original 4-5 well-developed paragraph response to the questions below and respond to two classmates’ responses by Sunday 5/1 at 11:59pm. Source documentation should be parenthetical (e.g. Smith 2010) and a list of sources in full bibliographic format (not just websites/URLs) must be included at the end of the initial post.
Research a good or service that creates a positive or negative externality.
Explain the good or service and the corresponding externality that it creates.
Propose a form of command and control intervention to correct this externality or explain one that already exists.
If there is existing command and control intervention, does it correct the externality problem? How well?
Propose a market-based solution that would fix the problem rather than command and control intervention.
Evaluate the expected effectiveness of your market-based solution compared to the command and control solution. Which do you think is better? Why?
Based on your analysis, do you think it is appropriate for the government to make decisions on our behalf and reflect those decisions in their policies?
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