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Solved: Looking To Get Some Help On Better Understanding Externalities And Cease Theorem Work In Real-world Examples And How They Are Applied. For Example, If BP Drills For Oil In The Pacific Ocean, T

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Looking to get some help on better understanding externalities and Cease Theorem work in real-world examples and how they are applied. For example, if BP drills for oil in the Pacific Ocean, the neighbor is having a loud party, and if I buy a car that has added the safety features which help prevent the death of drivers and passengers in case of an accident. For these examples, I am trying to understand if there are any externality and what kind. Also, would cease theorem apply for these examples or a better solution would be for the government to intervene with their policies.  



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Externalities is term that explains a very subtle pint that is generally missed out while considering an exchange, in the economic terms(exchange in economics means the happening of a trans

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