Lecture 7: Externalities - Harvard University

Private marginal cost (PMB): The direct benefit to consumers of consuming an additional unit of a good by the consumer. Social marginal cost (SMB): The private marginal benefit to consumers plus any costs associated with the consumption of the good that are imposed on others Example: Using a car and emitting carbon contributing to global ...

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www.epa.gov

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soilcarboncoalition.org

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assets.publishing.service.gov.uk

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