When using the traditional command-and-control approach to environmental regulation, the government attempts to:

A. set a minimum requirement and then allows the firm to determine the most efficient method for achieving this requirement.
B. determine the most efficient method for different industries.
C. make allowances for differences across industries and between firms.
D. set standards that are applicable to all situations and does not recognize unique circumstances.


Answer: D

Economics

You might also like to view...

"A Nash equilibrium occurs when both parties to a game end up worse off as a result of the decisions that are made." Is the previous definition of a Nash equilibrium correct or incorrect?

What will be an ideal response?

Economics

There is a difference between who is legally required to send a tax payment to the government and who bears the burden of the tax. Which of the following would have the most impact on who bears the burden of an excise tax?

A) The elasticity of demand for the item that is taxed. B) whether the tax is based on the ability-to-pay principle or the benefits-received principle C) whether the tax is imposed by the federal government or a state government D) The motive for the tax. If the tax is designed to raise revenue, more of the burden will fall on firms. If the tax is designed to achieve a social objective (for example, to discourage smoking) more of the burden will fall on consumers.

Economics

Globalization aids geographic divisionalization in an organization

Indicate whether the statement is true or false

Economics

In what way is monopolistic competition less beneficial to the welfare of society in the long run? a. The firm can earn an economic profit

b. The firm does not produce where marginal revenue is equal to marginal cost. c. The firm does not produce where average total cost is minimized d. The firm does not shut down if the price is less than average variable cost.

Economics