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When there is a positive externality in a free market, too much of the good is produced and consumed.
Mark-up
Markup is the percentage difference between the selling price and the cost price of a product or service.
Selling Price
The amount of money for which a product or service is sold to the customer, which may include costs and markup.
Mark-up
Mark-up refers to the difference between the cost of a good or service and its selling price, expressed as a percentage over the cost.
Cost
Represents the amount of money required to purchase something or the expense associated with creating a product or service.
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