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Chapter 17 Externalities and Public Goods

Chapter 17 Externalities and Public Goods

Chapter 17 Externalities and Public Goods. 17.1 Introduction 17.2 Externalities 17.3 Public Goods. 17.1 Introduction. First Fundamental Theorem of Welfare Economics: IF All consumers and producers act as perfect competitors (no one has market power) and

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734 views • 55 slides
Chapter 17 Externalities and Public Goods

Chapter 17 Externalities and Public Goods

Chapter 17 Externalities and Public Goods. 17.1 Introduction 17.2 Externalities 17.3 Public Goods. 17.1 Introduction. First Fundamental Theorem of Welfare Economics: IF All consumers and producers act as perfect competitors (no one has market power) and

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595 views • 55 slides
Chapter 5 - Externalities

Chapter 5 - Externalities

Chapter 5 - Externalities. Public Economics. Externality Defined. An externality is present when the activity of one entity (person or firm) directly affects the welfare of another entity in a way that is outside the market mechanism.

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521 views • 51 slides
Externalities

Externalities

Externalities. Definition. An externality occurs when the activity of an ind affects the utility of another ind in a way not accounted by the price system externality = external to the P mechanism E.g. pollution

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290 views • 27 slides
Ec1661/API135 Jan 28, 2011

Ec1661/API135 Jan 28, 2011

Ec1661/API135 Jan 28, 2011. Avinash Kishore. Outline. Rationality Opportunity Cost Marginal Principle Demand, Supply and the Competitive Equilib . Consumer and Producer Surplus, Deadweight loss Externality Coase Theorem. Basic Principles. Economic actors are rational.

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294 views • 19 slides

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