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There are three separate yet overlapping branches within the social structure perspective - social disorganization theory, strain theory, and cultural deviance theory. Briefly discuss the main focuses of each of these theories.
Marginal Cost
An additional expense incurred from the production or acquisition of one more unit of a good or service.
Efficiency
The ability of a system or process to achieve a goal using the least amount of resources possible.
External Benefits
Positive effects experienced by third parties or the broader society as a result of an economic transaction or activity that are not reflected in market prices.
Market Demand Curve
A graphical representation showing the relationship between the price of a good and the total quantity demanded by all consumers in the market.
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