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Welcome to the Q&A for ECN/APEC 2010, where you can ask questions and receive answers from your fellow students, the TA, and your professor.

Please only ask questions about the material for the course. Try to create discussions about the material we see in class, instead of just thinking of economics in general (this is an introduction to microeconomics class, not a policy or government class).

For questions and discussions about course organization or other course related topics, come see us after class or during office hours.

Feel free to discuss quiz questions on the Q&A, but do not provide direct answers to quiz questions before the quiz's due date.

External Costs/Benefits

+1 vote
8 views
What is the difference between the two? How do you calculate?
asked Apr 30 by canvas-0beab539b2710 (387 points)

1 Answer

+1 vote

External benefits are benefits given by firms or individuals to others without compensation

External costs are uncompensated costs that are imposed on other by individuals or firms

It would be hard to calculate the cost or benefit without a specific example

answered Apr 30 by canvas-9dad53739df91 (261 points)
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