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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Related Book For
Economics Private And Public Choice
ISBN: 9780123110404
2nd Edition
Authors: James D Gwartney; Richard Stroup; A H Studenmund
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