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private commodities
Although ________ are excludable, producers can charge a premium for them, incentivizing them to be produced.
Consumers
________ are more efficient paying a positive price- a price equal to the marginal cost of production- because they are also competitors in consumption.
market economy
A(n) ________ will lack the incentives to produce efficient amounts of the good if one or both of these qualities are missing.
Emissions taxes
________ are levies based on how much pollution a company creates.
Environmental standards
________ became widely used in the 1960s and 1970s, and they were a huge success.
