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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Economists sometimes shock noneconomists by stating that they do not favor the complete elimination of pollution. Explain the rationale for this position.

To determine

Explain the reason why people do not favor the complete elimination of pollution.

Explanation

Pollution is a classic example of negative externality or external cost. Generally, people do not favor to eliminate the pollution completely. The reason is that the marginal cost of eliminating pollution is greater t...

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