___________________ Is a Term Used to Describe a Policy to Elevate

question 5

Short Answer

___________________ is a term used to describe a policy to elevate all buildings' lowest floor above predicted flood elevations, generally by additional heights of 1-3 feet above the minimum height required by the National Flood Insurance Program.

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Definitions:

Imperfectly Competitive Industry

A market structure characterized by a few producers that have some control over the price and where products are differentiated.

Control Over Price

The ability of a person or entity to influence the market price of a product or service.

Individual Producer

A single entity or person that creates goods or provides services in an economy.

Market Power

Refers to the ability of a firm or group of firms to manipulate the price and output levels in the market to their advantage.