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What is the ground-state electronic configuration of a carbon atom?
Externality
A consequence of an economic activity experienced by unrelated third parties; it can be either positive or negative.
Market Failure
Situations where the allocation of goods and services by a free market is not efficient, often requiring government intervention.
Negative Externality
Occurs when the production or consumption of a good or service imposes costs on third parties who are not involved in the transaction.
Marginal Cost
The financial impact of producing one more unit of a product or service.
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