Examlex
Michael was released from prison for drug sales two weeks ago and has been arrested today for drug sales. What term describes Michael's second arrest?
Price
The amount of money required to purchase a good or service.
Positive Externality
A benefit that is enjoyed by a third-party as a result of an economic transaction, without them necessarily being involved in the transaction.
Marginal Social Benefit
Sum of the marginal private benefit plus the marginal external benefit.
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded.
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