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Everything you need to know about EXTERNALITIES- Micro Unit 6
6:30
YouTubeJacob Clifford
Everything you need to know about EXTERNALITIES- Micro Unit 6
Your teacher of professors is going to ask you to draw externalities, including the socially optimal quantity and deadweight loss. The might even require you to draw both types: a consumption externality and a production externality. Here are three rules that will help you. 1. Consumption externalities always have two benefit curves (MSB and ...
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Externalities Explained
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