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When compared to realistic optimists, those with pessimistic explanatory styles tend to:
External Social Cost
Costs of production or consumption that affect individuals not involved in the transaction, often unaccounted for by the market price.
Efficient Level
Describes a state where resources are allocated in the most effective manner, maximizing output and outcomes.
Marginal Social Benefit
The incremental advantage to the community from the consumption or production of an additional unit of a product or service.
Pollution
is the introduction of contaminants into the natural environment that cause adverse changes, affecting air, water, and land quality detrimentally.
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