Topic 3 DQ 2

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Refer to Chapter 10 in the textbook which discusses externalities. Specifically, reference section 10-2, which details public policies towards externalities. Additionally, find an article using your subscription to the Wall Street Journal detailing one proposed solution to pollution. In your post, summarize the selected article and discuss the following:  Explain which of the public policies detailed in section 10-2 of the textbook best describes the proposed solution in the selected article.  Which of the public policy approaches outlined in section 10-2

would work best to resolve this pollution problem and why?  Hello Professor,  As many observers may have expressed concern that pollution levels in society are alarmingly high, posing significant environmental and health risks. However, when considering the

goal of reducing overall pollution, it can be more efficient to have varying reduction targets for different firms due to the principle of cost-effectiveness. Each company faces different production processes, technologies, and associated pollution control costs. Setting

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uniform reduction targets may be economically burdensome for some firms, potentially leading to job losses or increased costs for consumers. By allowing flexibility in reduction targets, policymakers can encourage firms to adopt the most cost-effective pollution mitigation measures, ensuring

that the overall reduction goal is achieved at the least possible economic cost. This approach recognizes the diversity in industries and promotes a more balanced and sustainable strategy for pollution reduction across the entire spectrum of economic activities.

 

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