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Exhibit 30-5 ​

question 89

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Exhibit 30-5

Exhibit 30-5 ​    -Refer to Exhibit 30-5. If a positive externality exists, then curve __________ represents the marginal social benefit curve and the area __________ represents the market failure. A) 2; BDC B) 1; ABC C) 3; ABC D) 2; ABC E) 1; BDC
-Refer to Exhibit 30-5. If a positive externality exists, then curve __________ represents the marginal social benefit curve and the area __________ represents the market failure.

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Definitions:

Elba

An island in the Mediterranean Sea off the coast of Tuscany, Italy, famous as the first place of exile for Napoleon Bonaparte in 1814.

Continental System

An economic blockade imposed by Napoleon between 1806 and 1814, aiming to weaken Britain by prohibiting European countries from trading with it.

Continental Markets

Markets that are primarily located on the European continent, often used in contrast with the British or other island markets.

Britain's Economy

Refers to the economic system and performance of the United Kingdom, characterized by its service sector, manufacturing, and international trade.

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