The Environmental Approach Found in the Clean Air Act of 1990

question 27

Multiple Choice

The environmental approach found in the Clean Air Act of 1990 is:

• A) marketable pollution permits.
• B) price caps.
• C) command-and-control regulation.
• D) a thousand points of light.

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Definitions:

Marginal Revenue

The increased earnings a business obtains from the sale of one extra item or service.

Marginal Cost

The increase in total cost that arises from producing one additional unit of a product.

Output

The quantity of goods or services produced in a given time period by a firm, industry, or country.

Economic Profit

The divergence between aggregate income and total outlays, inclusive of both tangible and intangible expenses.