'Marginal social cost msc' presentation slideshows

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Topic 4 ? Externalities

Topic 4 ? Externalities. Definition of Externality. An externality is an economic cost or benefit that is the by-product of economic activity but that is allacated outside of the market system. Resources are likely to be misallocated when there is an externality.

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Chapter 15

Chapter 15. The Shortcomings of Free Markets. When she was good She was very, very good, But when she was bad She was horrid. HENRY WADSWORTH LONGFELLOW. What Does the Market Do Poorly?. Severe business fluctuations Unemployment Inflation Unequal distribution of income

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Externalities and Environmental Policy

359 views • 10 slides