Briefly explain how command-and-control regulation works
Command-and-control regulations set specific limits for pollution emissions and/or specific pollution-control technologies that must be used.
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Which of the following increases the quantity supplied of compact discs but does NOT increase the supply of compact discs?
A) new technology that lowers the cost of producing compact discs B) a decrease in the price of a compact disc C) an increase in the price of a compact disc D) a decrease in the number of suppliers of compact discs E) an increase in the price of the resources used to produce compact discs
A local manufacturing plant that emitted sulfur dioxide was forced to stop production because it did not comply with local clean air standards. This decision provides an example of
a. a direct regulation of an externality. b. corrective taxes. c. a Coase theorem solution to an externality. d. the misuse of a subsidy.