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  3. briefly explain what is meant by the term \"extern

Briefly explain what is meant by the term \"externality\" and how it occurs.

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Economics

Briefly explain what is meant by the term \"externality\" and howit occurs.

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Answer Externality is the unintentional cost or benefit that occurs during the process of production or consumption That is the cost or benefit that affects a third party tthat did not choose to incur that cost or enjoy that benefit Externality lies outside the intended result of    See Answer
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