Externalities (Part 1) - Negative Externalities- Micro Topic 6.2
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Mr. Clifford's 60 second explanation of negative externalities (aka: spillover costs). Notice that there are two different supply curves. One is the marginal private cost which ignores the spillover costs and the other is the marginal social cost (MSC) which includes the additional costs to society. Please keep in mind that these clips are not designed to teach you the key concepts. These videos are a review tool to help you better understand what you learned in class.
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