Explain what adaption means the climate science literature

4. What does it mean for a good to be non-excludable? How did we deal with that in designing a private environment for the public goods case? How and why did we use game theory in this design?

5. Explain how permits can improve economic efficiency over a policy of one-size-fit all regulations. Be sure to define efficiency for this environment.

10. Derive the Samuelson condition graphically.