What is the dollar value of the net gain to society from ‘correcting’ the externality?Group of answer choices

To answer this question, I would need more specific information about the externality you're referring to. An externality is a cost or benefit that affects a party who did not choose to incur that cost or benefit.

However, here's a general step-by-step guide on how you might calculate the dollar value of the net gain to society from correcting an externality:

1. Identify the externality: This could be a positive externality (where the social benefits exceed the private benefits) or a negative externality (where the social costs exceed the private costs).

2. Quantify the externality: This could involve estimating the cost of the negative effects or the value of the positive effects. This might involve some research or data collection.

3. Calculate the social cost or benefit: This is the total cost or benefit to society, which includes both the private costs or benefits and the external