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Business, 01.07.2021 17:40 mjwenz8018

Antonio loves opera and hates rock 'n' roll. Shen loves playing rock 'n' roll music at high volume. Unfortunately, they are next-door neighbors in an apartment building with paper-thin walls. In this case, imposes a externality on his neighbor in the form of noise pollution. Why might a command-and-control policy that forbids music to be played above a certain decibel level lead to an inefficient outcome?

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Antonio loves opera and hates rock 'n' roll. Shen loves playing rock 'n' roll music at high volume....
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