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Find the first term, the common difference, and give a recursive formula for the arithmetic sequence.
-8th term is 62; 13th term is 42
Positive Externality
A beneficial effect experienced by a third party or the society as a whole, resulting from an economic transaction.
Market
The environment in which buyers and sellers interact to exchange goods, services, and information, setting prices through supply and demand.
Socially Optimal Quantity
Socially Optimal Quantity is the level of production or consumption of a good or service that results in the maximum possible economic efficiency and welfare, taking into account all social costs and benefits.
External Benefit
A positive effect or advantage that results from a product or service's use, extending beyond the direct buyer or consumer to others not involved in the transaction.
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