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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

What is the major difference between the market output and the socially optimal output?

To determine

Distinguish market output and social optimal output.

Explanation

The market output is different from social optimal output. The market output is not influenced by any external cost due to the negative externality and also not by any external benefit due to the positive externality...

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