This paper circulates around the core theme of (b) Explain what negative externalities are, and why there may be a case for government intervention to address them. together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 168. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.
Identify the key characteristic of four market structures (ie. monopoly, oligopoly, perfect competition or monopolistic competition). Give a case study example of each market structure.
(b) Explain what negative externalities are, and why there may be a case for government intervention to address them. Describe any two ways to correct the negative externalities and the pros and cons of each method. Provide real life examples.
(c) Choose a case study from your home country where an externality exists in a current market. Illustrate the situation with externalities in your case study and the resulting deadweight loss in a diagram and discuss ways that your government has addressed the presence of negative externalities in the market.