Asked by Jameka Hicks on Apr 24, 2024
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The marginal social benefit received from pollution is equal to its marginal social cost in the market for highly polished glass.In this situation:
A) society's well-being can be improved if the quantity of pollution decreases.
B) firms in the market produce too much pollution.
C) firms in the market produce too little pollution.
D) firms in the market produce the socially optimal level of pollution.
Marginal Social Benefit
The supplementary gain for the general population derived from the consumption of one more unit of a good or service.
Marginal Social Cost
The comprehensive expense to society for creating another unit of a product or service, encompassing both individual costs and any external factors.
Pollution
The occurrence or release of harmful or toxic materials into the environment.
- Evaluate the ideal societal level of pollution by considering both marginal social gains and expenses.
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Learning Objectives
- Evaluate the ideal societal level of pollution by considering both marginal social gains and expenses.
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