Uullne marker and compute the four
ar ct A toruinivherc buyers and
sellers conduct transzwtions.
Consumer sovereignty The idea that
in the market system, consumers ulti—
mately decide which goods and services
firms will produce.
Chapter 12: Environmental Protection and Negative Externalities
This is a very interesting chapter in that it highlights how externalities impact markets. The basic
mechanism is to drive a wedge between private costs and social costs or a wedge between pr
ECON 605, Summer 2015
Final Exam Question Listing
You must include your name(s) in the Word file submitted. The best place to include your name is in the
upper right hand corner of the first page, or in the header or footer. This set of questions contains