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Consider a country that has two industries.In the north,they grow wild rice,which requires a lot of rainfall.In the south,they grow wheat,which requires just a moderate amount of rainfall (too much rainfall is bad for wheat production) .One year,there is a record rainfall.This will result in
Scrap
Waste materials or discarded objects that can be recycled or reused, often leftover from manufacturing and consumption.
Marginal Abatement Cost
Represents the cost associated with eliminating an additional unit of a negative output, such as pollution.
Emissions Permit
A legal right granted by a government to emit a certain amount of pollutants into the atmosphere; often used in cap and trade programs.
Refundable Deposit
An amount of money given as security for an item that is intended to be returned, with the promise of repayment.
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