Examlex
Use an algebraic approach to solve the problem: A board 20 feet long is cut into two pieces such that the length of one piece is two-thirds of the length of the other piece. Find the length of the shorter piece of board.
Coase Theorem
A concept in economics that if trade in an externality is possible and there are no transaction costs, bargaining will lead to an efficient outcome regardless of the initial allocation of property.
External Benefit
A benefit derived from a product or service that affects people who are not directly involved in the transaction or production of it.
Pollution Reduction
Efforts and measures taken to decrease the amount of pollutants released into the environment.
Trade Permits
Licenses or permissions required by governments for businesses to engage in certain trade activities, often used to control the volume or nature of traded goods and services.
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