A command-and-control policy:
A. is unlikely to have any impact on the amount of pollution emitted.
B. does not affect the production costs of firms.
C. usually finds the most efficient pollution abatement technology.
D. decreases the incentive for firms to develop efficient abatement technologies.
Answer: D
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In a market economy, what must an entrepreneur do in order to be successful?
What will be an ideal response?
Monetary policy affects real GDP by..
What will be an ideal response?
An industry that realizes such large economies of scale in producing its product that single-firm production of that good or service is most efficient is called a(n)
A. fixed cost monopoly. B. patent monopoly. C. economies of scale monopoly. D. natural monopoly.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point A to Point D. This could be explained by
A. an increase in economic growth. B. a change in society's preferences for motorcycles versus hybrid cars. C. a reduction in unemployment. D. an improvement in technology.