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A country is currently creating 40 million units of pollution emissions per year. The table below shows the marginal costs and benefits of reducing the
A country is currently creating 40 million units of pollution emissions per year. The table below shows the marginal costs and benefits of reducing the amount of pollution emissions to various amounts. Costs and Benefits of Pollution Reduction Total Cost (in thousands of Total Benefits (in thousands Total Benefit Marginal dollars) of dollars) Marginal Cost Minus Total Benefit Cost 40 Current situation Current situation million 30 50 800 50 800 Gain of 750 million 20 150 1,300 100 Gain of 500 million 1,150 10 500 1,850 350 350 Gain of million 1,350 O 1,200 2,000 700 150 Gain of 800 What level of emissions should this country reduce to? Briefly explain why
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