Is the claim that environmental standards reduce industrial competitiveness valid?

A) Yes, because environmental standards raise costs to businesses.
B) No, because consumers will want to buy from firms that pollute less.
C) No, because environmental standards have little effect in high-income countries.
D) Yes, because environmental standards will cause the imposition of WTO sanctions.


A

Economics

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Consider the market for ride-on lawn mowers and the recent increases in the price of oil. The recent increase in the price of oil makes it more expensive to manufacture ride-on lawn mowers. An increase in the price of oil also makes it more expensive to run a ride-on mower. If the price of oil increases, the demand for ride-on mowers will ________ and the supply will ________.

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Economics