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Suppose That Next Year the Government Fixes the Number of Pollution

Question 135

Multiple Choice

Suppose that next year the government fixes the number of pollution permits at a quantity less than the number sold this year. If nothing else changes, next year the price of a pollution permit will be


A) greater than the price of a permit this year.
B) less than the price of a permit this year.
C) equal to the price of a permit this year.
D) equal to the price set by the government.

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