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Please answer the following question (Kolstad, page 259 #3)

"Consider the case of a rival bad. Would efficiency require that a Pigouvian fee be levied on the producer of the bad and the receipts given to the consumers as compensation? Does it matter if the bad is excludable or nonexcludable?"

Please write the answer in more than 350 words, and attach a reference.

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Darryn D'Souza
Darryn D'SouzaLv10
28 Sep 2019

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