Command and control is economists' most favored method of eliminating pollution because it achieves a least-cost reduction in emissions.

Question

Quizplus · Accepted Answer

Economists generally favor market-based mechanisms, such as emissions pricing and cap-and-trade, for reducing pollution as they provide economic incentives for firms to reduce their emissions in the most cost-effective manner. Command and control regulations, while effective in setting minimum standards for emissions, can be expensive for firms to comply with and may not achieve the most efficient level of emissions reduction.

Command and Control Is Economists' Most Favored Method of Eliminating