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_________ is what a whole market segment might buy.
Ronald Coase
A British economist known for his work on transaction costs, property rights, and the theory of the firm.
Negative Externalities
Unintended and unfavourable outcomes or costs imposed on a third party not involved in a transaction or activity.
Taxes
Compulsory financial charges or some other type of levy imposed upon a taxpayer by a governmental organization.
Positive Externality
A benefit that affects a party who did not choose to incur that benefit, often leading to underproduction of the good or service in absence of intervention.
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