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Economics Homework Ten - Model (view source)
Revision as of 15:59, November 26, 2009
, 15:59, November 26, 2009building model answers
1. In your own words, try to give a better definition of "externalities" than provided by this Lecture.
1. In your own words, try to give a better definition of "externalities" than provided by this Lecture.
:Some sort of effect, whether negative or positive, on a party other than the buyer or seller. (Michelle)
2. Explain why marginal revenue must be zero when total revenue is maximized.
2. Explain why marginal revenue must be zero when total revenue is maximized.