The Widespread Use of Technology-Based Emission Standards to Control Air

question 4

True/False

The widespread use of technology-based emission standards to control air pollution ensures that the aggregate marginal abatement cost function is as low as is technically possible.
Because TBS are not cost-effective,the aggregate marginal abatement cost function is much higher than it need be,and society is settling for smaller improvements in ambient quality than might be achieved if control programs were incentive-based and cost-effective.

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Definitions:

Balance Sheet

A statement of finances that shows the assets, liabilities, and equity of shareholders of a corporation at a certain moment.

Revenue Account

An account that tracks the income earned from normal business operations, such as sales of goods or services, distinguished from other types of income.

Withdrawal Account

A withdrawal account is an account in a partnership or sole proprietorship from which an owner can withdraw his or her share of the business profits.

Closing Process

The closing process involves summarizing revenue and expense accounts and transferring net income or loss to owner's equity to prepare the company's books for the next accounting period.