A policy is efficient if it produces for society a maximum of net benefits and it occurs when _______ ______ ____ (MAC) equal marginal damages.
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A policy is _____-______ if it achieves a given amount of environmental improvement at the least possible cost.
A ______ _______ gets results from the interaction of many individual decision makers
A ______ ______ : a government agency determines what is to be done.
A perception of _________ may cause a policy to lose public support.