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Unformatted text preview: Examples of consumption externalities: cigarette smoke, gasoline emissions. Standards and Quotas A command and control approach (as distinct from economic approach) Government restricts output to socially optima level 14:48 14:48...
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This note was uploaded on 02/23/2012 for the course 373 363 taught by Professor Hochman during the Spring '12 term at Rutgers.
- Spring '12