Describe a private cost a private and an external benefit, Microeconomics

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Describe a private cost a private and an external benefit

Problem

1. Describe an externality not listed in the chapter. Is it positive or negative? Who is the economic decision maker, and who bears the external cost or benefit?

2. Consider the decision to adopt a dog. Describe a private cost, a private benefit, an external cost, and an external benefit that result from your decision to adopt a dog.

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.

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