Climate change mitigation efforts are systematically undersupplied in a laissez-fair economy, in part because the benefits of such efforts in a free-market setting are: rival and excludable. rival and nonexcludable. nonrival and excludable. nonrival and nonexcludable.
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"Excludable" means people can be prevented from enjoying the good unless they pay; "nonexcludable" means people cannot be easily excluded from enjoying the good. Show more…
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Free-market economies often promote the production of greenhouse gases. This is because a. the environmental costs of carbon emissions are hardly ever recognized as part of the economy. b. supply never keeps up with demand, so industry must increase output to address the demand, which requires increasing supplies of energy. c. the costs of energy are variable and unpredictable. d. laws controlling air pollution are unenforceable.
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