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Syllogism 4G
Given the following syllogism:
Only registered voters are called for jury duty, so Joann must not be a registered voter, since she was not called for jury duty.
-For Syllogism 4G, the minor premise is:
Negative Externality
An adverse effect suffered by a third party as a result of an economic transaction in which they had no involvement.
Internalize
The process of incorporating the cost of externalities into the decision-making process of firms or individuals.
Marginal Social Cost
Marginal social cost is the total cost to society of producing an additional unit of a good, including both private costs and any external costs.
External Costs
Costs incurred as a result of an economic activity that are not borne by the entities undertaking the activity but rather by other parties or society at large.
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