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1. Describe the extent of the problem of air quality in the U.S.; the causes and historical trends; and policy responses, both current and recommended. What are the economic implications of using the CAC approach as opposed to a market-based approach? 2. Describe the extent of the problem of water quality in the U.S.; the causes and historical trends; and policy responses, both current and recommended. What are the economic implications of using a CAC approach as opposed to a market-based approach?
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