Examlex
__________ refers to the extent to which a person is capable of altering his or her actions and appearance in social situations.
Marginal Cost
The added expenditure resulting from the production of an extra unit of a good or service.
Socially Optimal
A condition or outcome that maximizes societal welfare, taking into account all costs and benefits to society as a whole.
Positive Externalities
Benefits that occur from a transaction or activity to third parties who are not directly involved in the transaction or activity.
External Costs
Costs of a transaction or activity that affect parties who did not choose to incur that cost and are not reflected in market prices, often necessitating government intervention.
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