How Does a Negative Externality in Production Reduce Economic Efficiency

question 85

Essay

How does a negative externality in production reduce economic efficiency?

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Definitions:

Only Child

A child who has no siblings and is the solitary offspring of their parents.

Share

To have or use something jointly with others, or to divide and distribute.

Compete

To take part in a contest or rivalry, striving to win or achieve something by surpassing others.

Conscious

Pertaining to the awareness of one's own existence, sensations, thoughts, surroundings, and the ability to perceive external stimuli.