Should the cost of compliance be considered when imposing air pollution regulation? For example, should the Environmental Protection Agency (EPA) consider costs when it regulates emissions from power plants?

Should the cost of compliance be considered when imposing air pollution regulation? For example, should the Environmental Protection Agency (EPA) consider costs when it regulates emissions from power plants?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter28: Antitrust And Regulation

Section: Chapter Questions

Problem 11E

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Environmental regulation was discussed for cases in which the market is unable to price risk correctly. In those cases, regulatory agencies are often tasked with evaluating risk and with administrating any regulations imposed. What does Public Choice Theory suggest might be the outcome of these bureaucratic processes in terms of the optimal level of regulation? Why?
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