Now suppose the u. s. government does not know the demand curve for pollution and, therefore, cannot determine the optimal tax to achieve the desired level of pollution. instead, it auctions off tradable pollution permits. each permit entitles its owner to emit one ton of chemicals per day. to achieve the socially optimal quantity of pollution, the government auctions off 140 million pollution permits. given this quantity of permits, the price for each permit in the market for pollution rights will be

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

The answer is c) it has a lower cost to attend