An emissions standard will work best in which of the following cases?
a. The marginal cost of pollution reduction curve is relatively flat
b. The marginal cost of pollution reduction curve is relatively steep
c. All firms have similar equipment and technology
d. The health effects of a pollutant are relatively unknown
e. Firms have very different equipment and technology
Ans: c. All firms have similar equipment and technology
You might also like to view...
The optimal mix of output is the most desirable combination of output attainable with existing
A. Technology and business decisions. B. Resources, technology, and social values. C. Resources, government regulations, and technology. D. Resources and products.
The possibility that a borrower might engage in riskier behavior after a loan has been obtained is
A. financial intermediation. B. adverse selection. C. moral hazard. D. asymmetric information.
The relationship between inputs and outputs is known as
A. marginal product. B. manufacturing. C. business. D. a production function.
Investment in human capital
A) is quite different from and has a much lower return than investment in physical capital. B) is just like investment in physical capital and has a return similar to that earned from other investments. C) is just like investment in physical capital but has a much greater return than do other investments. D) is not comparable to other investments in any way since human capital is embodied in the person.