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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What are the three problems that economists have noted with regard to command-and-control regulation?

To determine

The problems with regard to the command and control regulations are to be determined.

Explanation

The difficulties faced are as follows:

First, command-and-control regulation does not offers any incentive to improve the quality of the environment beyond the standard which is set by a particular law. Once the command-and-control regulation has been satisfied, the polluters have zero motivation to do better.

Second, command-and-control regulation is inflexible. It usually requires the same standard for all polluters, and often the same pollution-control technology as well. This means that command-and-control regulation pulls no differences between firms that would find it inexpensive and easy to meet the pollution standard-or to decrease pollution even more-and firms that might find it difficult and costly to meet the standard...

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