a. Why does an output-based policy such as the Chinese ETS create an implicit subsidy? b. What
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a. Why does an output-based policy such as the Chinese ETS create an implicit subsidy?
b. What is the nature of that subsidy?
c. Why does it reduce cost-effectiveness relative to a straight emissions-based approach?
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Related Book For
Environmental And Natural Resource Economics
ISBN: 9781032101187,9781000892185
12th Edition
Authors: Tom Tietenberg, Lynne Lewis
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