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What is the implication of the dilemma of honesty?
Marginal External Benefit
Increased benefit that accrues to other parties as a firm increases output by one unit.
Pollution Emissions
The release of pollutants into the environment, typically referring to harmful substances discharged from industries, vehicles, and other sources.
Marginal External Cost
The cost resulting from producing one additional unit of a good that is incurred by someone other than the producer.
Fixed Proportions Technology
Fixed proportions technology is a production process where inputs must be used in strict, fixed ratios to produce outputs, with no possibility of substitution between inputs.
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