Ch.9 p. 192: #'s 9.3 & 9.4
#9.3 Suppose that you are asked to put a price on carbon emissions. Explain why
you prefer a global carbon tax or a global cap-and-trade system.
I prefer a global carbon tax because I feel it will help the l
1) What is an externality? Why are externalities considered
a type of market failure?
An externality is a cost or benefit that results from an activity or
transaction and that affects an otherwise uninvolved party who
did not choose to incur that cost or