Problem
Assume the inventor of the snow cleaner gets only 3 percent of the benefits, the remainder consisting of reduced medical bills for back pain. In the general public, explain why this is an externality. How large is it? Is it a beneficial externality? How will it affect the number of snow cleaners it is most profitable to manufacture, as compared to the number that best contributes to the general welfare?
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.