economic

please each term needs a short paragraph to define. can find resources online but cannot copy or quote, need to use your own words, can revise.
4.    Socially Efficient Output (Socially efficient level of production)

5.    Marginal Private Benefit versus marginal external benefit

6.    Pigouvian Subsidy to control a negative externality

7.    Partial Public Good

8.    Free Rider with respect to a Public Good

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