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What two related problems did the British face after defeating the French in 1763?
Tradable Permits
Environmental or regulatory allowances that can be bought and sold, often used in emissions trading schemes to control pollution or carbon emissions.
Property Rights
Legal rights to use, control, and derive benefits from any type of property, including real, personal, or intellectual property.
Marginal Social Cost
The total cost to society of producing an additional unit of a good or service, including both the private costs and any external costs.
Market Price
The current rate at which a product or service is available for purchase or sale in an open market.
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