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A running track has the shape of a rectangle with a semicircle on both ends. If the length of the track is yards and the length of the side of the rectangle is yards, what is the radius of the of the semicircular parts?
Marginal Social Benefit
The additional benefit to society as a whole from producing or consuming one more unit of a good.
Public Good
A product or service that is provided without profit to all members of a society, either by the government or a private individual or organization, characterized by non-excludability and non-rivalry.
Marginal Social Cost
The total cost to society of producing an additional unit of a good or service.
Public Good
A good that is non-excludable and non-rivalrous, meaning no one can be effectively excluded from its use, and someone's use of it does not reduce its availability to others.
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