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When Government Corrects a Market with an Externality Present by Allowing

question 20

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When government corrects a market with an externality present by allowing participants to buy up to the point where their net benefit is zero,they must be:


Definitions:

Scientific Method

A systematic, empirical method of investigating phenomena, acquiring new knowledge, or correcting and integrating previous knowledge.

Unconscious Mind

A part of the mind that influences thoughts, feelings, and behaviors without our direct awareness, containing desires, fears, and motivations.

Stereotypes

Beliefs that associate groups of people with certain traits.

Negative Stereotypes

Are oversimplified and unfavorable beliefs about a group of people, which can lead to discrimination and social stigma.

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