Suppose the Environmental Protection Agency (EPA) wants to mandate that all methane emissions must be reduced to zero in order to alleviate globalwarming in the United States.Which of the following describes why most economists would disagree with this policy?O The opportunity cost of zero pollution is much higher than its benefit.O The environment isn't worth protecting.O Reducing methane emissions is desirable, but whatever levels of pollution firms decide to emit privately are already efficient.O Society would not benefit from lower air pollution.

Opportunity cost is giving up some benefits from the next best choice. It is a cost of the trade-off…

Suppose the Environmental Protection Agency (EPA) wants to mandate that all methane emissions must be reduced to zero in order to alleviate global warming in the United States. Which of the following describes why most economists would disagree with this policy? The opportunity cost of zero pollution is much higher than its benefit. O The environment isn't worth protecting. Reducing methane emissions is desirable, but whatever levels of pollution firms decide to emit privately are already efficient. O Society would not benefit from lower air pollution.

Suppose the Environmental Protection Agency (EPA) wants to mandate that all methane emissions must be reduced to zero in order to alleviate global warming in the United States. Which of the following describes why most economists would disagree with this policy? The opportunity cost of zero pollution is much higher than its benefit. O The environment isn't worth protecting. Reducing methane emissions is desirable, but whatever levels of pollution firms decide to emit privately are already efficient. O Society would not benefit from lower air pollution.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter10: Externalities

Section: Chapter Questions

Problem 4PA

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Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.

Question

Suppose the Environmental Protection Agency (EPA) wants to mandate that all methane emissions must be reduced to zero in order to alleviate global
warming in the United States.
Which of the following describes why most economists would disagree with this policy?
O The opportunity cost of zero pollution is much higher than its benefit.
O The environment isn't worth protecting.
O Reducing methane emissions is desirable, but whatever levels of pollution firms decide to emit privately are already efficient.
O Society would not benefit from lower air pollution.

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