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1 page/≈275 words
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MLA
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Mathematics & Economics
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English (U.S.)
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Topic:

Economics: Marginal Costs and Benefits (Essay Sample)

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The task was to respond to questions on Social Benefits. The sample is about interpreting a graph on the cost of a day care against the number of spaces available within the day care center. The client did not request for any references.

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Economics: Marginal Costs and Benefits

Social Benefit refers to the total benefit accrued from producing a certain good or service, as well as the consumption of the same. Social benefit is the summation of all the private and external benefit from positive externalities. If the external benefits are many, the social benefits will be more than the private benefits. Externalities are either costs or benefits that are incurred by those who are not involved in the production of certain goods and services.
Marginal Social Benefit (MSB) ref...
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