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The graph illustrates the marginal abatement cost (MAC) and marginal damage cost curve (MDC) of pollution emissions. Marginal cost $62 54 35 19 15 0 23 MDC MAC 45 61 87 Quantity of pollution emissions (tons) 2. What is the socially optimal Optimal pollution emissions: 1.For the 1st unit of pollution emissions, the MAC is A. equal to the MDC. B. less than the MDC. C. greater than the MDC. quantity of pollution emissions? tons 3.A market will produce A. Less than the socially optimal quantity B. More than the socially optimal quantity C. The socially optimal quantity of pollution emissions.

The graph illustrates the marginal abatement cost (MAC) and marginal damage cost curve (MDC) of pollution emissions. Marginal cost $62 54 35 19 15 0 23 MDC MAC 45 61 87 Quantity of pollution emissions (tons) 2. What is the socially optimal Optimal pollution emissions: 1.For the 1st unit of pollution emissions, the MAC is A. equal to the MDC. B. less than the MDC. C. greater than the MDC. quantity of pollution emissions? tons 3.A market will produce A. Less than the socially optimal quantity B. More than the socially optimal quantity C. The socially optimal quantity of pollution emissions.

ECON MICRO
ECON MICRO
5th Edition
ISBN:9781337000536
Author:William A. McEachern
Publisher:William A. McEachern
Chapter17: Externalities And The Environment
Section: Chapter Questions
Problem 2.4P
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The graph illustrates the marginal abatement cost (MAC) and marginal damage cost curve (MDC) of pollution emissions. Marginal cost $62 54 35 19 15 0 23 MDC MAC 45 61 87 Quantity of pollution emissions (tons) 2. What is the socially optimal Optimal pollution emissions: 1.For the 1st unit of pollution emissions, the MAC is A. equal to the MDC. B. less than the MDC. C. greater than the MDC. quantity of pollution emissions? tons 3.A market will produce A. Less than the socially optimal quantity B. More than the socially optimal quantity C. The socially optimal quantity of pollution emissions.
Transcribed Image Text:The graph illustrates the marginal abatement cost (MAC) and marginal damage cost curve (MDC) of pollution emissions. Marginal cost $62 54 35 19 15 0 23 MDC MAC 45 61 87 Quantity of pollution emissions (tons) 2. What is the socially optimal Optimal pollution emissions: 1.For the 1st unit of pollution emissions, the MAC is A. equal to the MDC. B. less than the MDC. C. greater than the MDC. quantity of pollution emissions? tons 3.A market will produce A. Less than the socially optimal quantity B. More than the socially optimal quantity C. The socially optimal quantity of pollution emissions.
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