The Governor of Utah asks an economist to summarize the different interventions he might use to correct the negative externalities of air pollution. Which of the economist's summary statements are incorrect?

A. A Coase theorem approach is unlikely to succeed since there are so many residents affected.

B. Both corrective taxes and tradable pollution permits provide flexibility for firms that are less able to reduce pollution, where command and control does not.

C. Corrective taxes set the maximum quantity of pollution, whereas tradable pollution permits fix the price of pollution.

D. To find the efficient corrective tax, one only needs to calculate the amount of damage caused to residents by additional pollution.