Explain equimarginal principle

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Question: Explain equimarginal principle. why equimarginal principle is better than equiproportionate change policy? Use graphs or hypothetical data within your explanation would seem that neighbors could easily negotiate among themselves to settle problems of local externalities such as noise and unsightly land uses. Yet most communities control these problems with local laws and regulations Why ? be precise, you can use example or argument we have covered in the lecture

Reference no: EM133428329

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