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-(Table: Externalities from Parks) The table Externalities from Parks shows the marginal social benefit and the marginal social cost of preserving various amounts of land in a city for a public park. Without government intervention, at the amount of land dedicated to the public park the marginal social benefit will be:
Reactive Controls
Management techniques that respond to problems or situations as they arise rather than anticipating them and acting in advance.
Post-action
Refers to the period or activities that happen after a specific action or event has taken place, often involving review or evaluation.
Feedback Controls
Mechanisms used in a system to adjust its performance based on differences between actual outcomes and desired outcomes.
End Results
The final outcomes or conclusions of a process, activity, or operation, reflecting its effectiveness or success.
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