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What Is Marginal External Cost? Give an Example

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What is marginal external cost? Give an example.


Definitions:

Prescription Drug

A prescription drug is medication legally prescribed by a healthcare professional for a specific health condition.

OxyContin

A prescription opioid pain medication known for its potential for abuse and its role in the opioid addiction crisis.

Drug Abuse

The misuse of drugs or substances in a way that is harmful to the individual or society.

Children

Young human beings who have not yet reached adulthood or the age of majority.

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