Asked by SeLva MaLaR Prakash on Jun 22, 2024
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The marginal social benefit received from pollution is less than its marginal social cost in the market for highly polished glass.In this situation:
A) firms in the market produce the socially optimal level of pollution.
B) society's well-being cannot be improved by changing the quantity of pollution.
C) firms in the market produce too much pollution.
D) firms in the market produce too little pollution.
Marginal Social Benefit
The additional benefit to society as a whole from the consumption of one more unit of a good or service.
Marginal Social Cost
The additional cost incurred by society as a whole due to producing one more unit of a good or service.
Pollution
The contamination of the natural environment, leading to adverse effects on ecosystems and human health.
- Forecast the impact of external costs on the efficiency of markets.
- Ascertain the socially ideal level of pollution by evaluating marginal social advantages and expenses.
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Learning Objectives
- Forecast the impact of external costs on the efficiency of markets.
- Ascertain the socially ideal level of pollution by evaluating marginal social advantages and expenses.
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