This week my ECONS102 class is covering externalities. An externality is the uncompensated impact of the actions of one person on the wellbeing of a third party. Externalities can be negative (they make the third party worse off) or positive (they make the third party better off). We call them externalities because they lie outside…
Forestry slash, externalities, and the Coase Theorem
Forestry slash, externalities, and the Coase Theorem
18 Sep 2023 Leave a comment
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