____________ includes both the private costs incurred by firms and also the (external) costs incurred by third parties outside the production process. private costs social costs market failure spillover

____________ includes both the private costs incurred by firms and also the (external) costs incurred by third parties outside the production process. private costs social costs market failure spillover

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter14: Environmental Economics

Section: Chapter Questions

Problem 3SQ: From an economic viewpoint, the optimal amount of pollution a. is zero because all pollution imposes...

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____________ includes both the private costs incurred by firms and also the (external) costs incurred by third parties outside the production process.

private costs

social costs

market failure

spillover

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