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Consider two ways to reduce pollution - establishment of taxes on the pollution or the sale of permits to polluters. Which of the following best describes the outcome? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. Both methods can result in the same reduction of pollution, but the permits may achieve that goal with lower a administrative costs. b Both methods can result in the same reduction of pollution, but the permits may achieve that goal with higher administrative costs. C The permits will allow more pollution, but both methods will have the same administrative costs. d The permits will allow less pollution, but both methods will have the same admistration costs. e Both methods can result in the same reduction of pollution and the same adminstrative costs.If many individuals can consume a good at one time, how much should be produced in an allocation efficient outcome? Assume that is the only difference between this market and a normal competitive market. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Less than what a normal competitive market would produce. b More than what a normal competitive market would produce. C The same as the amount a normal competitive market would produce. d One cannot tell.A government project that once had benefits greater than costs continues to exist despite the benefits now being less than costs. A reason might be that: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a A few people receive the benefits and many pay the costs. b Many people receive the benefits and many pay the costs. C Many people receive the benefits and a few pay the costs d A few people receive the benefits and a few pay the costsParents decide to send their children to private schools. If the social benefits of their children's education are not part of their rational decisions about how much schooling to purchase, the equilibrium quantity of schooling will be too and the equilibrium price of schooling will be too to be allocationely efficient. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a low; low b low; high C high; high d high; lowIf benefits are received in the future and costs are paid now, an existing government program will be than if benefits are received now and costs are paid in the future. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a relatively easier to eliminate b relatively more difficult to eliminate C One cannot tell; it depends upon the sizes of the costs and benefits. d easy or difficult depending upon how effective the program is