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A Procedure That Eliminates or Internalizes Externalities Without Government Action

question 145

Multiple Choice

A procedure that eliminates or internalizes externalities without government action other than defining property rights is called


Definitions:

Total Revenue

The full amount of financial receipts a corporation garners from transactions or services provided in a specific time frame.

Marginal Revenue

The additional income that is gained from selling one more unit of a good or service.

Non-discriminating Monopolist

A monopolist that charges all consumers the same price for its product.

Marginal Revenue

The added income resulted from the transaction of an additional unit of a product or service.

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