A With/without Analysis of the Impact of the 1990 Clean

question 21

Multiple Choice

A with/without analysis of the impact of the 1990 Clean Air Act reveals that several categories of air pollution have__________ as a result of the legislation.

• A) stayed the same
• B) increased
• C) decreased
• D) experienced indeterminate change

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Definitions:

Resource

Raw materials, labor, capital, and other inputs used in the production of goods and services.

External Benefits

Benefits of a good or service that are not captured by the market price and are received by third parties.

Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and products that are similar but differentiated.

Maximize Profit

The goal of adjusting production or service levels to achieve the highest possible returns.