Examlex
Why do infants have problems with thermoregulation?
Goods And Services
The outputs offered in an economy for consumption, where goods are physical items and services are activities performed for others.
Socially Optimal
A condition or point at which the societal welfare is maximized, considering both efficiency and equity.
Marginal Social Cost
The total cost to society of producing an additional unit of a good, including both private costs and any externalities.
Marginal Social Benefit
The added value to the general population from the manufacture or use of one more unit of a good or service.
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