Multiple Choice
Due to the concept that economist call asymmetric information, polluting firms can mislead regulators regarding the costs of abatement. It is often in the interest of polluting firms to _________ the costs abatement so that the regulated target for emissions is _______ than the socially efficient level.
A) understate; lower
B) understate; higher
C) overstate; lower
D) overstate; higher
Correct Answer:
Verified
Correct Answer:
Verified
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