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Urban Planning Test 1
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1. One common argument made against planning is that it is unnecessary in a free marker, though this argument fails to recognize the problem of market failures that planning attempts to address. 2. Which concept best illustrates the difficulty of tranforming indi- vidual preferences into one soci- etal preference? 3. which of the following are rival and non-excludable and hense can result in the market failre of overconsumption? 4. externalities are the social cost of production that are not ref...
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