Problem
1. Does the market overproduce or under-produce when third parties enjoy positive externalities? Show your answer on a supply and demand graph.
2. Give two examples of positive externalities and two examples of negative externalities. Provide examples that are not in the textbook.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.