Examlex
Mercury is a small planet and therefore has trouble holding on to an atmosphere. How then do scientist account for the extremely thin atmosphere that was found around the planet in 1985?
MSC (Marginal Social Cost)
The complete expense incurred by society for the production of one more unit of a good or service, encompassing both individual costs and any external effects.
Marginal Social Cost
The total cost to society of producing an additional unit of a good or service, including both private costs and externalities.
Society
A large group of individuals who live in the same area, share a common culture, norms, and values, and are organized in a cooperative manner.
Negative Production Externality
A situation in which the production of goods or services imposes costs on third parties not involved in the transaction, often not reflected in market prices.
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