Unit 2.9: Economics of the environment and public goods
This page contains the activities, with student access, for the teacher page: Unit 2.9: Economics of the environment and public goods Externalities - the spillover costs to a third party caused by the production, or consumption of a good (or service). Externalities occur when MSC ≠ MSB in the market for a good or service. Social benefit - the total benefit to a society, measured the private marginal benefit of an...