Question

question 3 - 1 point
which of the following are among the shortcomings of command - and - control regulations?
select two correct answers.
select all that apply:
they offer limited flexibility on where and how to reduce pollution
they provide no incentive for going beyond the limits they set
they can reduce pollution by less than other types of regulations
all of the above
content attribution
question 4 - 1 point
when jennifer has her friends over, they always take from her roommates food supplies and leave a mess in the common areas. this is an example of __________.
select the correct answer below:
a positive externality
a negative externality
breaking and entering
public good

Explanation:

• Question 3: Command - and - control regulations are inflexible as they dictate specific methods and locations for pollution reduction (limiting flexibility). Also, they only set a minimum standard and do not encourage firms to go beyond that (no incentive for exceeding limits). They can be as effective as other regulations in reducing pollution in some cases, so the claim that they reduce pollution less is not always true.
• Question 4: A negative externality occurs when a third - party (roommates in this case) is affected negatively (loss of food and a mess) by an economic activity (Jennifer having friends over). A positive externality is a positive impact on a third - party. Breaking and entering is a legal term not related to this economic concept. A public good is non - excludable and non - rivalrous, which this is not.

Answer:

• Question 3: they offer limited flexibility on where and how to reduce pollution, they provide no incentive for going beyond the limits they set
• Question 4: a negative externality