Examlex
Research suggests that victim-impact statements have a significant effect on judicial sentencing decisions.
MSB
Stands for Marginal Social Benefit, representing the additional benefit to society from consuming one more unit of a good or service.
MSC
Marginal Social Cost, which refers to the total cost to society of producing an additional unit of a good or service.
Sulfur Emissions
Gaseous releases of sulfur compounds into the atmosphere, primarily from burning fossil fuels, which can cause environmental damage and health issues.
Coase Theorem
A principle suggesting that under certain conditions, when externalities are present, parties can negotiate agreements to allocate resources efficiently without government intervention, as long as property rights are clearly defined and transaction costs are low.
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