Externality/Definition: Difference between revisions

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A cost of production that is not borne by the producer (see [[microeconomics]]: production).
A cost of production that is not borne by the producer,  or a benefit that the producer does not receive.

Latest revision as of 11:09, 30 October 2009

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Externality [r]: A cost of production that is not borne by the producer, or a benefit that the producer does not receive.