An international company drilled for oil in deep water and caused a major oil leakage, which affected the jobs of the fishing community. The government ordered the company to close the well and to stop drilling in the area.
What are the external costs of this incident?
the costs borne by the fishing community
2 )
the costs of closing the well
3 )
the costs to the company of drilling the well in deep water
4 )
the loss of revenue when the oil company stopped drilling
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