An airport expansion gives the airport operator a private benefit of £2,400,000. Regional businesses gain an external benefit valued at £180,000 for each of 10 new freight routes. Calculate the total social benefit of the expansion.
83 exam-style questions on AQA GCSE Economics 1.6 Market failure, covering 1.6.1a Market failure as misallocation of resources, 1.6.1b Government intervention, 1.6.2a Defining externalities, and 1.6.2b Positive and negative externalities. Each one has a worked solution and a mark scheme showing where the marks go.