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Outgoing links do not reduce the pagerank of the page that is linked from. The number of links on a page have nothing to do with the pagerank of that page.
The number of links do affect how much "link juice" is passed to the linked sites. If you have 10 quality outbound links, each site will get a percentage of the weight from your page's page rank. If you have 50 links, obviously there is less weight to spread out, so the destination sites get less weight, or less influence, from your links.
Outbound links do not affect PageRank in any way.
They can affect your SERPs, however, depending on who you link to, how you link, and how many outbound links you have. Quality outbound links can improve SERPs. Shitty, unrelated outbound links can hurt the SERPs.
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