Examlex
To add text to the top of a chart,which of the following should be done?
Pollutant Permits
Government-issued licenses allowing the holder to emit a certain amount of pollution; they can be bought and sold, creating an economic incentive for reducing emissions.
Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount that they actually do pay.
Demand Curve
A graph showing the relationship between the price of a good or service and the quantity demanded by consumers, typically downward sloping.
Adverse Selection
A situation in insurance and markets where buyers and sellers have different information, leading to transactions where the seller is more likely to sell a low-quality product.
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