Business, 11.05.2021 18:40 mileto5824

Explain in words the Pigouvian case of negative externalities and why he claims this proves the price system in a free market can fail to achieve allocative efficiency (about 6-7 sentences). Explain how Ronald Coase proved that Pigou is wrong? (5-6 sentences).

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Explain in words the Pigouvian case of negative externalities and why he claims this proves the pric...