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Consider that a liability law is being used to manage emissions in some scenario where MAC=270-3E and MD=2E. Then, in equilibrium, (i) what amount of
Consider that a liability law is being used to manage emissions in some scenario where MAC=270-3E and MD=2E. Then, in equilibrium, (i) what amount of compensation is the polluter likely to pay? (iii) what is the amount of compliance costs faced by the polluter? T (ili) what is the amount of net benefits to the society from having the liability law? [Be sure to diagram and compute appropriate numbers.]
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