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Wikipedia: Externality

Curated by ACT

Provides a definition and examples of an externality, both positive and negative, and the externality's effect on marginal private benefit and marginal social benefit.

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Concepts
spillover
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Additional Tags
cost benefit analysis, marginal private benefit, marginal private cost, marginal social benefit, negative externality, positive externality, wikipedia: externality, welfare economist
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Classroom Considerations
  • Knovation Readability Score: 5 (1 low difficulty, 5 high difficulty)
  • This content is from Wikipedia