Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506725
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Chapter ST11, Problem 4CQ
To determine
The efficiency of government regulations on resources and pollution.
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Economics: Private and Public Choice (MindTap Course List)
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- Is zero pollution possible under a marketable permits system? Why or why not?arrow_forwardIs zero pollution an optimal goal? Way or why not?arrow_forwardFrom an economic viewpoint, the optimal amount of pollution a. is zero because all pollution imposes costs on society. b. is that amount firms create when they maximize economic profits by setting their marginal private costs equal to market price. c. is that amount where the marginal social costs of producing a good precisely equals the price of the good. d. Both answers b. and c. are correct.arrow_forward
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