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Explain Why an External Benefit Leads to an Under-Allocation of Resources

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Essay

Explain why an external benefit leads to an under-allocation of resources to the production of a good.


Definitions:

Chromosomes

Threadlike structures made of DNA molecules that contain the genes and convey genetic information in the nucleus of cells.

Ethylene

A gaseous plant hormone that regulates various aspects of growth, development, and responses to stress.

Fruit Ripening

The physiological process by which fruits undergo chemical changes, becoming sweeter, less green, and softer.

Hormone

Chemical messengers produced by the endocrine glands that regulate various bodily functions by traveling through the bloodstream to target organs.

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