One of the characteristics of the cap-and-trade system is that
A. there is no way to ensure that pollution is reduced below some allowable total amount.
B. it is more expensive than a command-and-control system.
C. it is inflexible, and does not respond well to differences in the marginal cost of pollution reduction.
D. it reduces the economic damage that would have been done by a command-and-control system.
Answer: D
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