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MCQ 219: Which of the following is NOT a characteristic of the "emissions trading" policy instrument?

  1. It involves a mechanism whereby the permits available are initially distributed to producers who ar
  2. The price mechanism for tradable emissions permits helps to allocate the restricted supply of permit
  3. All producers are required to be equally efficient in reducing emissions of the pollutant
  4. The right to pollute can be transferred between different parties at a price determined by the marke
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