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In the 1970s in U.S. cities, air emissions were governed almost completely by prescriptive regulations. One of the problems faced by regulations in large urban areas with air quality well below desirable levels was how to let new polluters into the city without reducing air pollution.
Regulators came up with an innovative approach called the offset system. New sources had to "convince" exiting sources of emission to reduce emissions. The overall effect of all of the reductions had to at least offset the pollution additions by the new sources. Explain why or why
not this so-called "offset system" is equivalent to a marketable permit system.
What are the variables to be included in the social welfare of a country?
Prices of tickets for seats on commercial passenger planes are typically in the hundreds of dollars, whereas trips can be made by automobile at much lower cost. Accident rates per person per trip in the airline industry are considerably lower than au..
consider the following version of the model of incentive pay with endogenous monitoringin a principal-agent
Discuss and explain the limitations of the United States "supply side" policy in the war on drugs. Can we win the war on drugs? Describe your position on legalization.
Suppose the Fed creates excess reserves in the banking system by buying government bonds, but banks do not make more loans because economic conditions are bad. A Federal Reserve official notes: "A restrictive monetary policy can force a contraction o..
it is often claimed that hospitals compete for physicians rather than patients. assuming this is true how does it occur
Calculate point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points?
What is the total revenue for U.S. wheat farmers in 2006 and 2007 and calculate the price elasticity of demand for winter wheat.
1. if a firm best computer buys requires its customers to buy software from it whenever the customers purchase a
Describe an externality created by a firm in your state. b. What are the social costs associated with the externality c. List three remedies that the federal, state, or local government could introduce to reduce the problem.
Researchers have found that during the last recession, when income fell by 6 percent, many fast-food restaurants saw their sales increase by 8 percent while the sales of soda fell by 12 percent in grocery stores.
Why do you think it is important for managers to understand the mechanics of supply and demand both in the short run and in the long run?
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