Explain why, in the case of negative externalities, a competitive market produces a greater-than-economically-efficient quantity.
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Q71: Marginal private cost refers to the marginal
Q72: The marginal benefit from consumption of a
Q73: Exhibit 15-2 Q74: If output is produced at the level Q75: When the external benefits in a market Q77: A positive externality raises Q78: A negative global externality occurs when one Q79: A positive externality occurs when one person's Q80: Marginal social cost equals the sum of Q81: The Coase theorem works provided
A)marginal social benefits above
A)the transactions costs
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