The Environmental Protection Agency (EPA) requires that firms in a certain industry adopt a particular technology to reduce the emission of pollutants. Is this requirement a command- and-control policy or is it a market-based policy?

The maximin criterion can be defined as which of the following?

a. One seeks the maximum of the minimum payoffs to the various available strategies. b. One seeks the minimum of the maximum losses among the various available strategies. c. One seeks the maximum of the minimum losses to the various available strategies. d. One seeks the maximum of the maximum gains of the various available strategies.

If the total cost curve gets steeper as output increases, the firm is experiencing

a. diseconomies of scale. b. economies of scale. c. diminishing marginal product. d. increasing marginal product.