Problem
1. Describe some of the ways that externalities can be internalized.
2. Which two characteristics define a public good? Provide an example of a public good that was not discussed in the chapter.
3. What is the tragedy of the commons? Give an example that is 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.