Under an emissions tax program, the government sets ____; under an emissions permits program, the government sets ____
a. the price of the right to pollute; the price of the right to pollute
b. the price of the right to pollute; the permitted total quantity of pollution
c. the permitted total quantity of pollution; the price of the right to pollute
d. the permitted total quantity of pollution; the permitted total quantity of pollution
b
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Refer to Figure 3.1. A Nash Equilibrium occurs where
A) Homer confesses to committing the crime and Marge denies committing the crime. B) Marge confesses to committing the crime and Homer denies committing the crime. C) Homer and Marge both confess to committing the crime. D) Homer and Marge both deny committing the crime.
The basic approach in marginal analysis is to compare a policy's total benefits with its total costs
a. True b. False Indicate whether the statement is true or false