Please provide correct answer in detail... Provide three reasons why it is important for environmental economists to adhere to a code of ethics, whether the code of ethics is formal (documented and sanctioned by an established group) or informal (simply a matter of thinking about what is right, possible spillover effects, and what advice would be appropriate).

Please provide correct answer in detail... Provide three reasons why it is important for environmental economists to adhere to a code of ethics, whether the code of ethics is formal (documented and sanctioned by an established group) or informal (simply a matter of thinking about what is right, possible spillover effects, and what advice would be appropriate).

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter14: Environmental Economics

Section: Chapter Questions

Problem 4SQ

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Q)What are economists most concerned with when determining the desirability of pollution abatement programs? a. the expected future costs associated with rising ocean levels b. the future savings to the health-care system from fewer environmental illnesses c. equating the marginal cost and marginal benefit of pollution abatement d. the level of greenhouse gas emissions from automobiles
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What do you understand by externalities? Why do they have to be addressed for sustaining economic activity or human wellbeing? A private or a market mediated approach to address externalities may not always be adequate in resolving the issue, therefore a recourse to public sector solutions is inevitable? Give suitable examples in elaborating your answer.