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When somebody wearing muddy shoes rides a public bus, he imposes a negative externality on other riders (passengers get some mud rubbed off on them, and the shoes look ugly). If a city council asked you to recommend some kind of a solution for this externality, would you suggest a tax, assigning property rights, regulation, or doing nothing? Why?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9515354

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