From the Cambridge Evening News comes this interesting article on Tory proposals to reduce the negative externalities from excessive drinking in city centres
http://www.cambridge-news.co.uk/cn_news_home/DisplayArticle.asp?ID=443452
a) What are the PRIVATE benefits of many people flocking to city centres to drink?
b) What are the EXTERNAL benefits of many people flocking to city centres to drink?
c) What are the PRIVATE costs of many people flocking to city centres to drink?
d) a) What are the EXTERNAL costs of many people flocking to city centres to drink?
e) To what extent do you belive each of the proposals would reduce the market failure?
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