Match LIST-I with LIST-II: LIST-I: A. Positive externality in consumption; B. Positive externality in Production; C. Negative externality in consumption; D. Negative externality in Production LIST-II: I. Riding a noisy motor cycle at mid-night; II. Honey cultivation near a flower garden; III. Paper mill dumping waste into river; IV. Sanitisation of a house
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Market failure, externalities and public goods has come up 114 times in 7 exams since 2006.
This question is on Externalities and the social optimum, part of Market failure, externalities and public goods in Microeconomics.
Costs or benefits that fall on others, and why the private and socially efficient outputs differ.
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Question from the UGC-NET 2024 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.