Question: Discuss three market-oriented environmental tools for correcting negative externalities that could replace command-and-control regulation: pollution charges (e.g., taxes), marketable permit programs (e.g., cap-and-trade), and property

Discuss three market-oriented environmental tools for correcting negative externalities that could replace command-and-control regulation: pollution charges (e.g., taxes), marketable permit programs (e.g., "cap-and-trade"), and property rights. In which situations are some tools better than others?

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