At the market output and price for a good whose production causes pollution:
a. pollution is eliminated.
b. the marginal social cost of production exceeds the marginal social benefit of production
c. the private cost of production equals the private benefit of production.
d. the marginal social benefit of production equals the marginal social cost of production.
b
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Which one of the following statement is false?
A) Traditional and ecological economics may come up with different policy recommendations B) Most standard natural resource and environmental economics is an extension of microeconomic theory C) Cost-benefit analysis excludes the values of non-marketed goods D) Valuation techniques may be insufficient to capture the scope of global environmental problems
According to Say's Law, supply creates its own demand
a. True b. False