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Q3. Think about the applications of Neoclassical economics to environmental issues, such as the theory of externalities, Coasian bargaining, environmental valuation techniques, and cost-benefit analysis.
Q3. Think about the applications of Neoclassical economics to environmental issues, such as the theory of externalities, Coasian bargaining, environmental valuation techniques, and cost-benefit analysis. Using the coevolutionary framework and its critique of modern science, explain how the environmental applications of Neoclassical economics exemplifies Newtonian worldview. In your answer (i) Comment on how Neoclassical Economics approaches and treats nature with concrete examples (2 paragraphs)
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