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Manufacturing processes relying on fossil fuels cause large emissions of sulphur dioxide (SO2). These damaging emissions accumulate in the atmosphere, regardless of their country of origin. From this information we can infer that: Select one answer: The efficient amount of omissions will be produced as each firm burning fossil fuels is a profit maximizing firm. There will be more emissions than socially optimal, as firms have no incentives to take into account the damages they impose on society. There will be less emissions than socially optimal, as profit-maximizing firms will take into account the damages they impose on society. O To guarantee that the level of emissions is the socially optimal we need firms to compete à la Cournot.

Manufacturing processes relying on fossil fuels cause large emissions of sulphur dioxide (SO2). These damaging emissions accumulate in the atmosphere, regardless of their country of origin. From this information we can infer that: Select one answer: The efficient amount of omissions will be produced as each firm burning fossil fuels is a profit maximizing firm. There will be more emissions than socially optimal, as firms have no incentives to take into account the damages they impose on society. There will be less emissions than socially optimal, as profit-maximizing firms will take into account the damages they impose on society. O To guarantee that the level of emissions is the socially optimal we need firms to compete à la Cournot.

Applications and Investigations in Earth Science (9th Edition)
Applications and Investigations in Earth Science (9th Edition)
9th Edition
ISBN:9780134746241
Author:Edward J. Tarbuck, Frederick K. Lutgens, Dennis G. Tasa
Publisher:Edward J. Tarbuck, Frederick K. Lutgens, Dennis G. Tasa
Chapter1: The Study Of Minerals
Section: Chapter Questions
Problem 1LR
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Manufacturing processes relying on fossil fuels cause large emissions of sulphur dioxide (SO2). These damaging emissions accumulate in the atmosphere, regardloss of their country of origin. From this information we can infer that: Select one answer: The efficient amount of emissions will be produced as each firm burning fossil fuels is a profit maximizing firm. There will be more emissions than socially optimal, as firms have no incentives to take into account the damages they impose on society. There will be less emissions than socially optimal, as profit-maximizing firms will take into account the damages they impose on society. To guarantee that the level of emissions is the socially optimal we need firms to compete à la Cournot.
Transcribed Image Text:Manufacturing processes relying on fossil fuels cause large emissions of sulphur dioxide (SO2). These damaging emissions accumulate in the atmosphere, regardloss of their country of origin. From this information we can infer that: Select one answer: The efficient amount of emissions will be produced as each firm burning fossil fuels is a profit maximizing firm. There will be more emissions than socially optimal, as firms have no incentives to take into account the damages they impose on society. There will be less emissions than socially optimal, as profit-maximizing firms will take into account the damages they impose on society. To guarantee that the level of emissions is the socially optimal we need firms to compete à la Cournot.
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