Answer:
please refer to attachment for more explanation
Explanation:
a. a. Since both goods are complementary goods an increase in the price of cream cheese would cause equilibrium price and quantity of bagel to decrease.
b. If the price of the substitute good croissant decreases then the demand for bagel will fall since croissant is obviously cheaper therefore demand curve will shift downward and price and quantity will fall.
c. Lower income of the consumer would make the demand for the inferior good bagel to rise. Demand curve will shift upwards and price and quantity will rise.
<h2>cause _____ in this community, asnew regulation requires the local coal plant to install filtering technology to reduce their <em><u>carbon emissions by 50%. Purchasing the necessary equipment is too expensive for this business, forcing them to close the plant and lay off its 500 employees. Although the intent of the new regulation was to address potential _____ caused by the plant, the closing of the business will likely cause _____ in this community, as many of its</u></em> residents relied on jobs at the plant.</h2>
Answer:
1. Under command-and-control regulation, the government will sometimes specify the technology that firms must use in production. TRUE, e.g. currently the US government banned Huawei from providing 5G technology in the US due to security concerns even though that provides the best 5G technology in the world.
2. The government may decide on a specific amount of pollution that firms can legally emit. TRUE, the EPA sets the standards and companies must follow them, whether they are too high or too low maybe subject to an extensive debate.
3. A limitation of a command-and-control regulation is that firms have no incentive to remove pollution once they are within the legal pollution limits. TRUE, if the company is complying with current regulation, then that is all it needs to keep functioning without any problem.
4. Command and control situations are always the best option when it comes to reducing the amount of pollution. FALSE, when is the government or Congress the most efficient at doing something. Efficiency is not a characteristic of any government entity.
5. Command-and-control is more flexible than market-based regulation. FALSE, the terms command and control should give you an idea that government intervention can be anything but flexible.
6. A command-and-control regulation is subject to political considerations. TRUE, command and control regulation is set up by government agencies or Congress and both are political entities by definition. E.g. some governments impose harder environmental controls through the EPA, others impose softer or no controls at all.
