Question: The rows in Table 12.7 show three market-oriented tools for reducing pollution. The columns of the table show three complaints about command-and-control regulation. Fill in

The rows in Table 12.7 show three market-oriented tools for reducing pollution. The columns of the table show three complaints about command-and-control regulation. Fill in the table by stating briefly how each market-oriented tool addresses each of the three concerns.

Table 12.7 Pollution Charges Marketable Permits Property Rights Incentives to Go Beyond Flexibility about where and How

Pollution Charges Marketable Permits Property Rights Incentives to Go Beyond Flexibility about where and How Pollution Will Be Reduced Political Process Creates Loopholes and Exceptions

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