12. Which of the following is a way in which quality might be reduced by creating licensing laws?

a. Quality might be reduced as licensing laws cause prices to rise.

b. Quality might be reduced as licensing taws cause increases in the competitiveness of the market.

c. Quality might be reduced as licensing laws cause the number of suppliers to increase.

d. Quality might be reduced as licensing laws cause consumers to hire a qualified producer instead of the consumer producing, the good or service for themselves.

14. A spillover can be internalized when

a. Marginal spillover benefits are equal to marginal private benefits.

b. Itis a positive spillover.

c. An organization can monitor and enforce policies.

d. Marginal social costs are greater than marginal private costs.