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Government intervention is necessary to correct all externalities.
Timing
Refers to the selection of specific times for events to occur, which can influence the efficiency and effectiveness of operations, investments, and financial reporting.
Amount
A quantity of something, typically the total figured in numbers or unit of measure.
Warranty Costs
Expenses incurred by a company for repairing, replacing, or refunding products that fail to meet specified criteria during the warranty period.
Minor Defects
Small or negligible flaws in a product or system that do not significantly impair its usability or functionality.
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