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When using the traditional command-and-control approach to environmental regulation, the government attempts to: a. make allowances for differences across industries and between firms.b. set standards that are applicable to all situations and does not recognize unique circumstances.c. set a minimum requirement and then allows the firm to determine the most efficient method for achieving this requirement.d. determine the most efficient method for different industries.
Which of the following is the best example of a command-and-control regulation? a. Effluent taxes on pollutants.b. Offset programs.c. Requiring automobiles to have catalytic converters.d. Emissions trading.
The optimal level of pollution is: a.zero.b.the level at which the total social cost of air quality equals the total social benefit.c.the level at which the marginal social cost of air quality equals the marginal social benefit.d.the level at which the average social cost of air quality equals the average social benefit.
Suppose a firm wants to build a new factory that would add pollution to an already polluted area. Under an offset program, the firm must: a.purchase pollution permits from the government.b.pay a tax which depends on the amount of pollution created.c.reduce or eliminate an old pollution source in the area.d.install scrubbers and other government-mandated equipment.
Negative externalities: a.are found only in large cities.b.occur whenever individual health is harmed in the production process.c.impose most of their costs directly on consumers of polluting processes.d.impose most of their costs on individuals other than consumers of the polluting product.
What does this change show about how our understanding of the way the price system works to allocate resources has evolved? If "excess profits" are taxed away, where will oil companies get the money to fund new exploration and ..
Keeping in mind that one must take off work to complete the task who has the lowest oppurtunity cost of completing the task.' Sam, Both have the same identical cost, Teresa.
Suppose your college charges you separately for tuition and for room and board. then what is a cost of attending college that is not an opportunity cost.
Compute the pre-merger HHI measures for each market. How would a merger affect the market's HHI?
Assume that a very competitive start-up enters the market in direct competition with the oligopoly you described in the e-Activity, initially gaining a 12% market share.
When appropriate, the optimal solution to a maximization linear programming problem can be found by graphing the feasible region and: finding the profit at every corner point of the feasible region to see which one gives the highest value.
What is the equation of his budget line and sketch the budget line and two possible indifference curves that Herbert
how many workers should Ms. Smith hire? (Ms. Smith should hire workers as long as their marginal revenue product (MRP) exceeds their marginal resource cost
The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -2. The firm's marginal cost is constant at $10 per unit. a. Express the firm's marginal revenue as a function of its price. b. Determi..
Find the comparative statics for an increase in the sales tax, namely y^s/s and p^s/s , and provide an economic interpretation of them. What is the economic interpretation of an increase in the parameter a? You might want to plot the demand functi..
Will firms in industries, in which high levels of output are necessary for minimum efficient scale, tend to have substantial degrees of operating leverage? Please explain.
analyze the impact on the consumer's demand of the following three policies under the assumption that the market price does not change.
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