Examlex
If you eat something that generates hydrogen ions in your mouth, you probably will detect a _______ taste.
Marginal Social Cost
The complete expense incurred by society to produce an extra unit of a good or service, encompassing both individual costs and external impacts.
Marginal Social Benefit
Marginal social benefit is the additional gain to society as a whole from an additional unit of a good or service.
Socially Optimal
Refers to a situation where goods or services are produced and consumed at a level that maximizes overall social welfare.
Pollution
The contamination of the environment with harmful or poisonous substances, adversely affecting the health of living organisms and ecosystems.
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