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Externalities and cost-benefit analysis

  • Jack Harvey
Chapter
Part of the Macmillan Master Series book series

Abstract

In the pure market economy, resource allocation is the result of the decisions of consumers (households) and producers (firms) who seek to maximize the difference between benefits and incurred costs. We refer to these as private benefits and private costs.

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Copyright information

© Jack Harvey 1994

Authors and Affiliations

  • Jack Harvey

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