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Suppose that a firm is located along a river.The firm uses water from the river to cool its machinery and returns the water to the river several degrees warmer,which has led to a decline in the fish population downstream of the firm.
If the firm does not have to pay for the damage to the downstream fish,the market equilibrium price will be ________ and the market equilibrium quantity will be _____.
Bribery
Bribery is the act of offering, giving, receiving, or soliciting something of value as a means to influence the actions of an official or other person in charge of a public or legal duty.
Social Constructionists
A theoretical approach that views knowledge, identities, and social realities as constructed through social processes and interactions.
Biological Properties
Attributes and characteristics of living organisms, including genetics, metabolism, and reproduction.
Social Structure
The organized pattern of social relationships and social institutions that together compose society, determining the behavior of individuals and groups.
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