Microeconomics (Christopher T.S. Ragan) (z-lib.org)

Chapter Outline 17.1 The Economic Rationale for Reducing Pollution 17.2 Pollution-Reduction Policies 17.3 The Challenge Of Globa ...

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people and property. Local zoning laws regulate the ways we use land. Regulatory commissions set rates for electricity, natural ...

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17.1 The Economic Rationale for Reducing Pollution As a consequence of producing or consuming goods and services, “bads” are pro ...

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Figure 17-1 A Pollution Externality in a Competitive Market suppliers, employees, and customers. Its water-discharged effluent d ...

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competitive free market will produce where the demand and supply curves intersect—that is, at and If each unit of output of this ...

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marginal benefit of consumption is just equal to social marginal cost of production. The socially optimal level of output is suc ...

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Figure 17-2 The Optimal Amount of Pollution Abatement The Optimal Amount of Pollution Abatement Notice from Figure 17-1 that the ...

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The optimal amount of pollution abatement occurs where the marginal cost of reducing pollution is just equal to the marginal ben ...

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value, and we are more familiar with applying the concepts of supply and demand for goods with positive values. If no pollution ...

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Marginal Benefit of Abatement The downward-sloping curve in Figure 17-2 is the “demand” for pollution abatement and reflects the ...

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