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Micro Eco Year 1 > Market Failures: Public Goods, Information Gaps, Pollution Permits > Flashcards

Market Failures: Public Goods, Information Gaps, Pollution Permits Flashcards

1
Q

What system is used for pollution permits

A

Cap and trade system

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2
Q

How does the cap and trade system work

A

Government sets pollution cap
Permits given to firms
Firms can trade
Firms are rewarded for reducing pollution

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Micro Eco Year 1 (8 decks)

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