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Externalities (Part 1) - Negative Externalities- Micro Topic 6.2
Newer Version: https://youtu.be/2DYntAGD3wg Mr. Clifford's 60 second explanation of negative externalities (aka: spillover costs). Notice that there are two different supply curves. One is the marginal private cost which ignores the spillover costs and the other is the marginal social cost (MSC) which includes the additional costs to society ...
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