When Using the Economic Efficiency Approach to Controlling Air and Water

question 185

Multiple Choice

When using the economic efficiency approach to controlling air and water pollution, the government

• A)forces each firm to produce emissions in the most cost efficient manner irrespective of its cost structure
• B)offers each firm the flexibility to reduce emissions in the most cost effective manner, given its unique cost structure
• C)offers each firm the option of choosing between the cost minimizing emission level and the profit maximizing emission level
• D)provides each firm with some fixed rules and then requires them to maximize profits given these fixed rules
• E)offers each firm the option of using marginal cost pricing and average cost pricing when determining the optimum emissions levels

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