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### April

- [April 9 - Efficiency](apr9-efficiency.md)
- [April 13 - Externalities](apr13-externality.md)

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# April 13 Externalities

An **externality** is an effect felt beyond those whost decisions caused the
effect

- a positive externality will bring benefits to those beyond the decision
makers
- a negative externality causes spillover costs to those not involved in the
decision

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