A New York Legislator Wanted to Create a Deposit on Cigarettes

question 427

Multiple Choice

A New York legislator wanted to create a deposit on cigarettes butts. If implemented, people would have the incentive to (1) not toss cigarette butts onto public streets and sidewalks, and (2) pick butts up to redeem them for the cash. The degradation of the environment from littered cigarette butts is a

• A)private goods problem.
• B)Nash equilibrium.
• C)Tragedy of the Commons.
• D)cost-benefit equilibrium.

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Definitions:

Agricultural Products

Goods produced through farming and agriculture, such as crops and livestock.

Labor Force

The total number of people employed or actively seeking employment in a country or specific economic sector.

Agriculture

The practice of cultivating the soil, growing crops, and raising livestock for human use and consumption.

Price-Support Programs

Government interventions to maintain the market price of a commodity or product at a certain level by buying excess supply or offering subsidies.