Examlex
Which method for correcting externalities is common to both negative and positive externalities?
Demand Price
The price of a given quantity at which consumers will demand that quantity.
Perfectly Inelastic
A market situation where the quantity demanded or supplied does not change in response to a change in price.
Deadweight Loss
The inefficiency caused in a market where all potential gains from trade are not realized due to factors like taxes or subsidies.
Per-Unit Tax
A tax imposed on a product on a per unit basis, raising the cost of production or sale for that product.
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