1.2.3.4.5.a.b. the marginal social cost is equal to zero.C.the cost of complete pollution elimination will be far greater than the benefit.d. the benefit of complete pollution elimination will be far greater than the cost.e.it is good to have jobs in pollution fighting industries.Zero pollution is not a desirable social goal becausethe marginal damage costs are equal to zero.Government intervention will not be necessary when voluntary programs internalize an externality. Whichof the following will make it difficult for voluntary programs to work?a. Well defined property rights.b. Large numbers of individuals involved.C.Low costs of complying with the programs.d. Obscure objectives associated with the voluntary program.All of the above.b and d.e.f.A battery acid producer pollutes the water upstream from the nude swimmers belonging to the Polar BearClub. If transactions costs are low, the quantity of emissions will be efficientonly if Ronald Coase is a member of the Polar Bear Club.a.b. only if the distribution of costs and benefits is equal.C.only if water property rights are assigned to the producer.d. only if water property rights are assigned to the Polar Bear Club.e.if water property rights are assigned to either the producer or the Polar Bear Club.If there are two coal burning electric power generating facilities, one in tiny Field, B.C. and the other in thecity of Hamilton, Ontario. Both plants produce the same amount of pollution per unit of electricity. Asocially optimal emissions tax would probablybe the same in each area.be higher in Field B.C. than in Hamilton.a.b.C.d.be higher in Hamilton than in Field, B.C.would be less than zero in each city.A fisherman will have little incentive to throw a small fish back (in hopes of catching it some other day whenit has grown larger) becausea.a larger fish will be worth less at a future date than a small fish at present, given the current highinterest rate.b. the fisherman lacks private property rights that would guarantee future claim to the fish.C.the fisherman's child may be unsuccessful in future attempts to capture the fish.d.fish are a renewable resource, and one fish more or less will not make any difference, as long asenough fish survive to produce offspring.

A social goal is a goal or target that intends to further develop the well-being, personal…

1. Zero pollution is not a desirable social goal because the marginal damage costs are equal to zero. the marginal social cost is equal to zero. the cost of complete pollution elimination will be far greater than the benefit. the benefit of complete pollution elimination will be far greater than the cost. it is good to have jobs in pollution fighting industries. a. b. C. d. e.

1. Zero pollution is not a desirable social goal because the marginal damage costs are equal to zero. the marginal social cost is equal to zero. the cost of complete pollution elimination will be far greater than the benefit. the benefit of complete pollution elimination will be far greater than the cost. it is good to have jobs in pollution fighting industries. a. b. C. d. e.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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