Suppose Michigan’s NOX abatement standard for existing (E) sources is 4 units and the EPA's standard for new (N) sources is 10 units and that MACE = 1.8AEand MACN = 1.2AN. To meet the same combined abatement level of 14 but in a cost-effective manner, the standards for each should be
a. AE = 7; AN = 7 c. AE = 5.6; AN = 8.4
b. AE = 4.8; AN = 7.2 d. none of the above
c. AE = 5.6; AN = 8.4
Economics
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Which of the following changes would tend to both decrease the quantity of a good traded and increase the price?
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What will be an ideal response?
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