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Logan is a supportive, warm, and loving parent, but he also has high expectations of his children. He encourages independent and age-appropriate behavior from his children, and truly takes pleasure in watching them mature. Baumrind would classify him as a(n) :
External Cost
represents a negative spillover effect of an economic transaction on a third party who was not involved in the transaction.
External Costs
Costs that are not borne by the parties involved in economic transactions but are imposed on others, such as environmental pollution.
External Benefits
Advantages that accrue to individuals or society indirectly participating in an economic transaction or activity.
Market Outcome
The result of all buyers' and sellers' interactions in a market, determined by factors like price, quantity, and quality of goods and services.
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