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What does it mean to ‘internalise an externality’? How can this be achieved? (b) Why do ec

What does it mean to ‘internalise an externality’? How can this be achieved? (b) Why do ec

What does it mean to ‘internalise an externality’? How can this be achieved? (b) Why do economists prefer market-based methods that internalise negative production externalities to command methods (such as legislation and regulations)? (c) What are some difficulties that governments face in designing market-based methods?
Abhinav 28-Nov-2019

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