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Intro to externalities and their four types
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Intro to externalities and their four types
5:59
About this lesson
- Definition of Externality
- Positive & Negative Externality
- Positive & Negative Production Externalities
- Positive & Negative Consumption Externalities
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Video 1 of 17
Intro to externalities and their four types
6 min
• Selected
Understanding private, external, and social costs in negative externalities
4 min
How negative externalities shift the supply curve and cause deadweight loss
5 min
Marginal private benefit vs. marginal social benefit
2 min
How unnoticed external benefits cause underproduction and deadweight loss
4 min
Identifying costs and benefits of negative and positive externalities
1 min
Identifying which option is not a negative consumption externality
2 min
Calculating and graphing the marginal social benefit from a table
4 min
Finding unregulated pollution quantity using marginal cost and benefit
3 min
Finding pollution quantity when fishers own the lake
4 min
Graphing MSC, MPB, and MSB from a cost-benefit table
6 min
Finding output quantity using marginal private benefit and social cost
1 min
Finding socially optimal output where MSB equals MSC
1 min
Calculating deadweight loss from private vs. social outcomes
3 min
Private provision of fences in a wildlife anti-extinction program
3 min
Finding the efficient quantity where MSB equals MSC
1 min
Government over-provision of fences in a wildlife program
2 min