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Unformatted text preview: Everyone else limit catch-$ Conservation of fish +$ Conservation No one else limit their catch-$ No conservation of fish +$ No conservation When there are no property right, goods and services are overly consumed because you do not get the advantage of preserving the resource long term. Congestion 1000 cars x 20 min = 2000 minutes, as budding economist we can plead with people. 1. Flu shot –high positive externality – prevent others from catching the flu 2. Junk yard- negative externality – the property gone down a. This is why we create zoning- 3. How should a county zoning emission decide to zone? Consider the extend of its positive or negative externality...
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- Spring '07
- Market failure, Externality, 20 min, externalities spill-over benefits