V. The EPA did a retrospective benefit-cost analysis of the 1970 Clean Air Act for the period 1970- 1990. Briefly discuss what the results indicated concerning: A. Whether the benefits justified the costs. B. Whether air pollution was reduced by too much or too little.

V. The EPA did a retrospective benefit-cost analysis of the 1970 Clean Air Act for the period 1970- 1990. Briefly discuss what the results indicated concerning: A. Whether the benefits justified the costs. B. Whether air pollution was reduced by too much or too little.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter10: Externalities

Section: Chapter Questions

Problem 5CQQ

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Question

V. The EPA did a retrospective benefit-cost analysis of the 1970 Clean Air Act for the period 1970-
1990. Briefly discuss what the results indicated concerning:
A. Whether the benefits justified the costs.
B. Whether air pollution was reduced by too much or too little.

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Step 2: Part A-Identifying cost and benefit of 1970 Clean Air Act

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