Asked by Christian Stephens on Jun 27, 2024
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(Table: Coal Mine Pollution) Use Table: Coal Mine Pollution.The table shows the marginal social benefit and cost of various amounts of pollution from a coal mine.At the efficient quantity of pollution,the marginal social cost of pollution is _____ the marginal social benefit of pollution.
A) greater than
B) equal to
C) less than
D) unrelated to
Marginal Social Benefit
Refers to the additional benefit to society as a whole from one more unit of a good or service being produced and consumed.
Marginal Social Cost
The total cost to society of producing an additional unit of a good or service, taking into account the cost to producers and any costs to other members of society.
- Attain knowledge about the correlation between marginal social benefit, marginal social cost, and the suitable level of pollution or externalities.
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Learning Objectives
- Attain knowledge about the correlation between marginal social benefit, marginal social cost, and the suitable level of pollution or externalities.
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