Understanding private, external, and social costs in negative externalities

How negative externalities shift the supply curve and cause deadweight loss

Marginal private benefit vs. marginal social benefit

How unnoticed external benefits cause underproduction and deadweight loss

Identifying costs and benefits of negative and positive externalities

Identifying which option is not a negative consumption externality

Calculating and graphing the marginal social benefit from a table

Finding unregulated pollution quantity using marginal cost and benefit

Finding pollution quantity when fishers own the lake

Graphing MSC, MPB, and MSB from a cost-benefit table

Finding output quantity using marginal private benefit and social cost

Finding socially optimal output where MSB equals MSC

Calculating deadweight loss from private vs. social outcomes

Private provision of fences in a wildlife anti-extinction program

Finding the efficient quantity where MSB equals MSC

Government over-provision of fences in a wildlife program