Please read the article, The case for setting a minimum price on alcohol, found here:
According to the article, what do economists mean by the term “externality”?

What are the two reasons given in the article for setting a minimum price on alcohol (versus using a traditional excise tax)?

What are the benefits to society of setting a minimum price on alcohol?

Given what you know about Catholic Social Teaching, do you think the Catholic Church would be in favor of setting a minimum price on alcohol? Why or why not?

Of the answers you’ve provided, which were based on the use of the scientific method? Which were not? Would you say this suggested policy to set a minimum price on alcohol is based on empirical analysis or opinion, or both? Why?

please include a well-reasoned and well-written defense of all your answers. The reflection entry will be approximately 1-2 paragraphs in length, typed, double-spaced, and will be devoid of typographical and grammatical errors.

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