Negative Externalities of Production

>> YOUR LINK HERE: ___ http://youtube.com/watch?v=K_vi_10NVHI

In our last lesson we defined and introduced the different types of market failures we'll study in future lessons. The first we examine is negative production externalities, which arise when the production of a good creates spillover costs on society as a whole. • This lesson looks at one market in which negative externalities result from production and carefully walks through how we can use marginal benefit and marginal cost analysis to illustrate and explain this market failure. • Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870

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