In a Free Market in Which There Is Pollution,the Optimal

question 3

Multiple Choice

In a free market in which there is pollution,the optimal amount of pollution reduction occurs when:

• A) social marginal benefits of reduction equal its total social costs.
• B) social total benefits of reduction are maximized.
• C) social marginal benefits of reduction equal its social marginal costs.
• D) social marginal benefits of reduction equal zero.

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Definitions:

Harold Innis

A Canadian economist and professor known for his contributions to communication theory and economic history, especially concerning media and resource economies.

Time and Space

Fundamental concepts in various disciplines, representing the dimensions in which events occur and matter exists.

Harold Innis

A Canadian economist and professor known for his contributions to communication theory and the study of Canadian economic history.

Society

A collection of people engaged in continuous social interaction or a substantial social group inhabiting the same geographic or social area, usually under the same political rule and common cultural norms.