8 . When the control costs of firms vary, the emission charge (pollution tax) approach will permit...

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8 . When the control costs of firms vary, the emission charge (pollution tax) approach will permit society to reduce poll ution by a given amount at a lesser cost than will the maximum emission standard method, which is currently widely used. The marginal cost of attaining a cleaner environment will rise as the pollution level is reduced. At some point, the benefits of a still cleaner environment will be less than their costs.

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Economics Private And Public Choice

ISBN: 9780123110404

2nd Edition

Authors: James D Gwartney; Richard Stroup; A H Studenmund

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