Micro 6.2-Externality Video and Notes
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Last updated about 1 year ago
5 questions
1
What is an externality? ( Definition and Example)
What is an externality? ( Definition and Example)
1
Private costs, social costs, private benefits, social benefits – do we really need to differentiate? Explain!
Private costs, social costs, private benefits, social benefits – do we really need to differentiate? Explain!
1
What is the typical characteristic of a negative externality?
What is the typical characteristic of a negative externality?
1
What is the typical characteristic of a positive externality?
What is the typical characteristic of a positive externality?
1
- MSB>MPB
- MSB=MPB
- MSB<MPB
- MSC=MPC
- MSC<MPC
- MSC>MPC
- Positive Externality
- Negative Externality
- No Externality