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Suppose that elementary education creates a positive externality. If the government does not subsidize education, then
Tax Burden
The total amount of taxes paid by individuals or businesses, relative to their income or profit.
Rental Housing
Dwelling units leased or rented to tenants under a contract or agreement, providing a place to live in exchange for payment.
Price Ceiling
A legal maximum price at which a good can be sold, often set by government to control prices.
Housing Shortage
A situation where the supply of available houses is not sufficient to meet the demand for them in a particular area.
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