Why do most economists favor emissions taxes and transferable pollution rights over compliance standards as pollution deterrents?
Compliance standards do not consider which firms can reduce pollutants at the lowest cost. Pollution taxes, on the other hand, encourage firms to develop and utilize abatement technologies in order to avoid paying taxes. Firms able to reduce pollution levels at relatively low opportunity costs can sell transferable pollution rights to firms unable to reduce pollution levels except at relatively high opportunity costs.
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If there are an estimated 20,000 barrels of unknown reserves of oil, annual consumption of oil is 800 barrels, and it is estimated that the supply of oil will be depleted in 50 years, how many barrels of known reserves of oil are there estimated to
be, all else equal? A) 1,250 B) 16,000 C) 20,000 D) 320,000
The text lists all of the following as outcomes of McDonald's experimental adoption of remote order taking except:
A) a decrease in accuracy in filling orders. B) increased speed at the drive through window. C) an increase in the costs associated with the drive-through portion of McDonald's business. D) employee dissatisfaction with constant monitoring and the stress of the process.