b. Public Choice Theory
c. Governments as Monopolists
4. How Much Should Government Intervene?
H. Summary
- 16.1 Basic Functions of Government LO 1
- 16.2 The Case for Free Markets LO 2
- 16.3 Market Failures LO 3, 4, 5
- 16.4 Broader Social Goals LO 6
- 16.5 Government Intervention LO 7
I. Key Concepts
J. Study Exercises - Fill-in-the-Blank
- Review
- Problems
- 17 The Economics of Environmental Protection
A. Chapter Outline
B. Learning Objectives (LO)
C. 17.1 The Economic Rationale for Reducing Pollution - Pollution as an Externality
- The Optimal Amount of Pollution Abatement
a. Marginal Cost of Abatement
b. Marginal Benefit of Abatement
c. Optimal Abatement
D. 17.2 Pollution-Reduction Policies - Direct Regulatory Controls
a. Problems with Direct Controls - Emissions Taxes