Cap and Trade - Very quick questions?

Question

We were given this article:

http://www.etei.org/case_study_1.htm

and then asked the following questions:

1) What type of Market failure does the cap and trade address in the above case study?

2) Is Cap and Trade efficient

3) What is the solution to the market failure in the above case study? Has the program been successful?

Any help on these questions would be greatly appreciated.

Answer 1

Sorry Chris, most people have stopped answering homework questions on Y!A.  You'll be better off reading your textbook.