What Is Meant by the Phrase "External Costs of Coal

question 48

Essay

What is meant by the phrase "external costs of coal," and what are the estimates of such costs on an annual basis?

---

Definitions:

High Levels

Refers to quantities or amounts that are considerably above the average or typical range.

Output

The amount of products or services generated by a company, sector, or economic system within a specific timeframe.

Constant Returns

Refers to a situation in production where increasing the inputs by a certain factor results in output increasing by the same factor.

Production Functions

A mathematical expression that describes the relationship between inputs and the maximum output that can be produced with those inputs.