THE ECONOMIC THEORY OF POLLUTION CONTROL
The Optimal Level of Pollution
learning objectivesAfter reading this chapter you will be familiar with the following:
|• the main features of the pollution control (abatement) cost function; |
|• the main features of the pollution damage cost function; |
|• the trade-off between pollution control and pollution damage costs; |
|• the optimal level of pollution; |
|• how a change in consumers’ preference for environmental quality affects the optimal level of pollution; |
|• how a change in technology affects the cost of pollution control and the optimal level of pollution; |
|• an alternative explanation of market failure and its policy implications; |
|• the optimal pollution strategy: an ecological appraisal. |
Pollution cleanup is better than doing nothing, but pollution prevention is the best way to walk more gently on the earth.
Questia, a part of Gale, Cengage Learning. www.questia.com
Book title: Principles of Environmental Economics:Economics, Ecology and Public Policy.
Contributors: Ahmed M. Hussen - Author.
Place of publication: London.
Publication year: 2000.
Page number: 201.
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