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Marginal External Cost
The cost resulting from producing one additional unit of a good that is incurred by someone other than the producer.
Fixed Proportions Technology
Fixed proportions technology is a production process where inputs must be used in strict, fixed ratios to produce outputs, with no possibility of substitution between inputs.
Pollution
The presence of substances in the environment that are harmful to human health, natural ecosystems, or the climate.
Output
The total amount of products or services produced by a company, industry, or economy.
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