Externalities exist when individuals impose costs or confer benefits on others but don't have an incentive to take those costs or benefits into account.False
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Q177: Figure: Efficiency and Pollution Q178: Figure: Negative Externalities and Raising Pigs for Q179: Figure: Model of a Competitive Market Q180: Figure: Model of a Competitive Market Q181: If an external cost exists, then the Q183: The economically efficient level of an externality Q184: Figure: Positive Externalities and the Production of Q185: Figure: Positive Externalities and the Production of Q186: According to the Coase theorem, only when Q187: Taxes on sulfur dioxide emissions, excise taxes
(Figure: Model
(Figure: Model
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