Question: Under some pollution control laws, if a pollution source is found to be in violation of the standard it faces, it must pay a penalty

Under some pollution control laws, if a pollution source is found to be in violation of the standard it faces, it must pay a penalty equal to the gains that it earned by being in violation. Under what conditions will this policy lead to 100% compliance with the standards?

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It will lead to 100 compliance only if the pollution source faces a 100 probability ... View full answer

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