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Among the following items, ___ is external cost and ___ is private benefit. (...

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Among the following items, ___ is external cost and ___ is private benefit.

(I) The price you pay for a security system for your home

(II) The safety you enjoy as a result of having the security system

(III) The crime that is more likely to occur to your neighbour once a criminal sees a “Protected By Alarm” sticker on your window

(IV) The extra safety your neighbour might experience because criminals tend to stay away from neighbourhoods that have a lot of burglar alarms

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