A graph is one method of expressing a model

Refer to Figure 9-4. Suppose the government allows imports of leather footwear into the United States. What will be the quantity of imports?

A) Q0 B) Q1 C) Q2 D) Q2 - Q0

Which of the following is the most efficient method to reduce pollution emissions?

a. government pollution charges or taxes b. non-tradable emission standards that cap allowable pollution c. common law enforcement of property rights, when those rights are well-defined and transaction costs are low d. legislated regulations limiting the quantity of emissions allowed by each firm