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12/09/2020 Client: lyjly0 Deadline: 24 Hours

1. What is the difference between private and social costs?


 2. How can the government intervene to force consumers to internalize external costs associated with: a. negative externalities? b. positive externalities?


3.  Differentiate between a public good and common resources.


4. Would a tax on prescriptions drugs be more likely to be progressive or regressive? Why?


5. What finances the majority of federal spending?

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