Using the following data, prove that pollution permits that can be bought and sold can reduce pollution from 12 tons to 6 tons at a lower cost than a regulation which specifies that each of the three firms must cut its pollution in half.
Microeconomics
Microeconomics
Using the following data, prove that pollution permits that can be bought and sold can reduce pollution from 12 tons to 6 tons at a lower cost than a regulation which specifies that each of the three firms must cut its pollution in half.
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