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Suppose that Sony's R&D investment in digital devices has increased profits by 20%. Is this a private or social benefit?
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Chapter 13
Positive Externalities and Public Goods
Markets and Welfare
The Economics of the Public Sector
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everyone. Today, we're going through Problem number two from Chapter 13 of the textbook. Which states Sony's, R and D investment and digital service's has increased profits by 20%. Is this increase in profit a private benefit or social benefits? So this is a section on my reading in a textbook from Chapter 13 which explains the difference between private benefits in social benefits. It says that if the firm builds a factory or buys a piece of equipment, the firm receives all the economic benefits that result from the investment. However, one a firm invest in you technology that private benefits profits firm receives are only a portion of the overall socialite. The social benefits of an innovation account for the value, all positive externalities of the new idea product weather enjoyed by other companies for society as a whole, as well as the pirate benefits of the fern. That's for developing the new technological service is so, um, surely 20% profit is going to be simply prize it benefit cars. Um, it is solely the profit. It's not, um, Tony's only benefiting from the investment, not other parts of the um of their work with technology and this you are indeed investment there solely making profit off of investment, which makes this a private benefit rather than social. If you guys enjoy this video explanation, please of the light, but next to it. Thank you for watching.
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