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When private costs differ from social costs,leading to a Tragedy of the Commons,which of the following must be present
Models
Are simplified views of reality that attempt to explain real-world phenomena.
Theories
Systematically organized principles used to explain phenomena or predict future behaviors or outcomes in various fields of study.
Scientific Methods
Refers to systematic, evidence-based procedures for investigating phenomena, acquiring new knowledge, or correcting and integrating previous knowledge.
Competitive Landscape
The dynamic environment in which businesses compete, characterized by the strategies, strengths, and weaknesses of existing and potential competitors.
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