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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Why is it likely that tradable pollution permits will eliminate a given level of pollution at lower cost than a command-and-control system which mandates that each polluter eliminate the same amount of pollution?

To determine

Tradable pollution permit and regulation or command-and-control system.

Explanation

In regulation or command-and-control system, government enact some technology for pollution control in the production process and under this system, each polluters eliminate same quantity of pollution. The cost of eliminating pollution is high, because, cost changing the technologies for eliminating pollution is high...

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