Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Describe transferable discharge permits and mention two types of these permits.
Expert Solution
Step 1- Introduction
The markets are the place where the buyers, and sellers of various goods, and services meet with each other, and interact. The markets in some case are efficient in nature, while in some they are inefficient.
The markets become inefficient with the presence of positive or negative externalities, the presence of public goods, are information asymmetry, and can also occur because of the market power.
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