Examlex
Explain how the introduction of an additional competitive market can always solve the efficiency problem that emerges from a positive externality.
Quantity Demanded
It refers to the total amount of a good or service that consumers are willing and able to purchase at a given price within a specified time period.
Surplus
The condition that occurs when the quantity of a good or service supplied exceeds the quantity demanded, often leading to a decrease in prices.
Shortage
An instance in the marketplace where the need for a product or service outstrips its provision.
Equilibrium Price
The cost at which the supply and demand for goods are equal.
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