Define the economic concept of externality. How might an externality be addressed in the marketplace?

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Air Transport Economics

ISBN: 9781032482538

4th Edition

Authors: Bijan Vasigh, Brian Pearce

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Question Posted: Feb 02, 2024 02:05 AM

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Define the economic concept of externality. How might an externality be addressed in the marketplace?

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In economics an externality is a cost or benefit that affects a party who did not choose to incur that cost or benefit It is an effect of a purchase o...View the full answer

Air Transport Economics

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