If the EPA does implement its plan to enact tougher limits on smog-forming ozone,the quantity of product being produced by the polluting firms will ________ and the product price will ________.

Question

Quizplus · Accepted Answer

If the EPA enacts tougher limits on smog-forming ozone, it will force polluting firms to reduce their emissions, which will lead to a decrease in the quantity of product being produced. This decrease in supply will cause the product price to increase due to increased competition among buyers for a limited supply of the product. Therefore, the correct choice is (C) decrease; increase.

If the EPA Does Implement Its Plan to Enact Tougher