Command and control regulations do which of the following?
a. Provide incentives for firms to invent new technology to clean up pollution.
b. Dictate what firms can produced and how much of a good they can produce.
c. Dictate the amount of pollution firms allowed to production and/or the type of
technology that must be used by the firm.
d. Provide greater flexibility for each firm to lower the pollution it creates in its own way.
c. Dictate the amount of pollution firms allowed to production and/or the type of
technology that must be used by the firm.
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Which of the following is likely to happen when the interest rate falls?
A) The volume of economic activity will reduce. B) The labor demand curve will shift to the left. C) Equilibrium wage rate will fall. D) The labor demand curve will shift to the right.
Which of the following pairs of goods are most likely substitutes?
A) DVDs and DVD players B) cola and lemon lime soda C) lettuce and salad dressing D) peanut butter and gasoline
The figure above shows the market for milk in Cowland. A subsidy paid to producers of $1 per gallon of milk is introduced. If there are no external costs and no external benefits, the marginal benefit of the last gallon of milk consumed is
A) $3.50 a gallon. B) $4.00 a gallon. C) $4.50 a gallon. D) $5.00 a gallon.
If you real disposable income goes up by $1000 per week, and your real consumption spending goes up by $800 per week, you have an MPS of
A) 0.2. B) 0.8. C) 1.2. D) 1.0.