Because producers do not bear the external cost of pollution
A) private production exceeds the economically efficient level.
B) the economically efficient level of production is achieved.
C) private production is below the economically efficient level.
D) the market price is too high.
Question 2
Let's assume that two countries have imposed high tariffs on each other's products and services to the point where all trade between the two countries has disappeared.
Assume a newly elected member of parliament in one of the countries makes a proposal for unilateral tariff reduction regardless of whether the other country wishes to follow suit. Explain why such a policy change would actually be a good idea.
Primary production is constrained by the most limiting factor.
Storage devices (A) External hard-disk drive (B) USB drive (C) Memory card (D) Optical disc (DVD) ...
World Crude Oil Production, 1900–2010