Externalities affect only the buyer and seller involved in an exchange.
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Q16: If you go to the movies on
Q17: Government controls over market prices frequently "backfire."
Q18: In economics, the true cost of making
Q19: Even though international trade is undertaken voluntarily,
Q20: Both parties gain in a voluntary exchange.
Q22: Airlines can use marginal analysis to set
Q23: The relatively low rate of inflation coupled
Q24: Marginal analysis involves looking at the extra
Q25: Externalities are created when parties not involved
Q26: The concept of economic efficiency refers to
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