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OnRamps Economics College Practice Exam Flash Cards

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What best describes a negative externality?

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Negative externalities occur when a transaction has a cost that neither buyer nor seller are forced to pay. For example, a factory may release air pollution into the environment, incurring large social costs that neither the factory owners nor the consumers purchasing their product pay.

OnRamps Economics College Practice Exam Flash Cards

What best describes a negative externality?

?

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