Discuss the concept of externalities and discuss the advantages and disadvantages of tradeable pollution permits in resolving the problem posed by them. Discuss the use of the Coase Theorem in...

Extracted text: Discuss the concept of externalities and discuss the advantages and disadvantages of tradeable pollution permits in resolving the problem posed by them. Discuss the use of the Coase Theorem in resolving externalities. Discuss the free-rider problem in the case of public goods. Provide your own examples. Discuss the Tragedy of the Commons as it applies to the problem of allocating common resource5.