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Define the concept or term

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Reference no: EM131727957

By DEFINITIONS, I mean, how would you define the concept or term, and could you give an example (using a graph if necessary) to make your definition very clear?

1. Marginal social cost

2. Coase Theorem

3. Environmental Protection Agency

4.Traded pollution rights

5. Positive Externality

6. Privately produced public good

7. Social Conventions

8. Pigouvian Tax

9. Blanket Approach to Regulation

10. Fuel Economy standard for automobiles

11. Reaching the Socially Efficient Level of Production by Merger

12. Negative Externality from Consumption

13. Private optimal level versus socially optimal level of production

14. Marginal Benefit curve that slopes upward at an increasing rate

Reference no: EM131727957

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