The town of Rosewood had a food processing company that released excessive ammonia into the nearby river. The residents of Rosewood suffered from diseases and health disorders due to toxic exposure to the ammonia. Eventually, the mayor of the town held an auction in which an environmentalist named Karl Bauer was the highest bidder. He was given the right to discharge the ammonia content. In this scenario, the mayor practiced the _______.

Multiple Choice

• bubble concept approach

command and control system

marketable rights approach

cap and trade principle

point-source approach