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Please answer all the questions in details and feel free to make any references as long it helps in understanding. 1) what are the definitions
Please answer all the questions in details and feel free to make any references as long it helps in understanding.
1) what are the definitions of efficient and inefficient product mix and any exmaples
2) what is the definition of edgeworth production box?
3) when it is a negative externality, does it mean the marginal cost is positive and when it is positive externality, does it mean the marginal cost is negative?
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