External costs are costs of production that fall on people other than the producer of a good

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External costs are costs of production that fall on people other than the producer of a good or service. Marginal social cost equals marginal private cost plus marginal external cost.

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Essential Foundations Of Economics

ISBN: 9780520219465

7th Global Edition

Authors: Bade, Robin;Parkin, Michael

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Question Posted: Nov 05, 2024 10:01 AM

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External costs are costs of production that fall on people other than the producer of a good

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Essential Foundations Of Economics

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