Economics · Environmental Economics
Permits create a market price for pollution and therefore can be traded between firms. To ensure low transaction costs for these permits, they must be ____________.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1homogeneous, non-divisible, and excludable
- 2homogeneous, non-rival, and excludable
- 3homogeneous, perfectly divisible, and exchangeable✓
- 4homogeneous, indivisible, and exchangeable
Correct answer
homogeneous, perfectly divisible, and exchangeable
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