Describe how an externality, public goods, information, and related government regulation affect market outcomes and economic behavior.

  1. Describe how an externality, public goods, information, and related government regulation affect market outcomes and economic behavior.

In a one page paper, answer the following questions. In the United States milk often has a minimum prices set for it.  So, this assignment is about a floor price set on milk (a common event).does the price control benefit or harm producers and/or consumers? Why? Be sure to discuss this question with or without the government buying any excess milk produced.