Asked by Savannah Young Kelsey on Jun 13, 2024
Verified
The socially optimal amount of pollution abatement occurs where society's marginal
A) benefit of abatement exceeds its marginal cost of abatement by the greatest amount.
B) benefit of abatement equals its marginal cost of abatement.
C) benefit of abatement is zero.
D) cost of abatement is at its maximum.
Pollution Abatement
Actions or measures taken to reduce, control, or eliminate pollution and its negative impacts on the environment.
Socially Optimal
A condition or output level where the social welfare is maximized, taking into account both the benefits to consumers and the costs to producers.
Marginal Benefit
The additional satisfaction or utility that an individual gains from consuming one more unit of a good or service.
- Apprehend how mitigating pollution influences social welfare and the allocation of resources.
Verified Answer
Learning Objectives
- Apprehend how mitigating pollution influences social welfare and the allocation of resources.
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