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Simplify the rational expression.
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Supply-Side Market Failure
A situation where the production of a good or service results in unaccounted external costs, leading to overproduction and inefficiencies in the market.
Net Benefit
The total positive outcomes minus the total costs associated with a decision or action.
Society's Perspective
A viewpoint considering the collective interests, welfare, and impact on the wider community or society as a whole.
Last Unit
Refers to the final unit produced or consumed, often used in economic analysis to assess marginal utility or cost.
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