The rows in Table 12.7 show three market-oriented tools for reducing pollution. The columns of the table
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The rows in Table 12.7 show three market-oriented tools for reducing pollution. The columns of the table show three complaints about command-and-control regulation. Fill in the table by stating briefly how each market-oriented tool addresses each of the three concerns.
Table 12.7
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Pollution Charges Marketable Permits Property Rights Incentives to Go Beyond Flexibility about where and How Pollution Will Be Reduced Political Process Creates Loopholes and Exceptions
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