Which of the following is not considered a strength of the environmental economics approach?

Michigan SUGAR BEET processing center creates waste ponds that smell terrible interfering with the quality of life of nearby residents. Below are the dollar valued benefits and costs of producing a ton of sugar. Quantity in Tons Private Benefit Private Cost External Cost 1 $140 $100 $20 2 $130 $110 $20 3 $120 $120 $20 4 $110 $130 $20 5 $100 $140 $20 6 $90 $150 $20 7 $80 $160 $20 Describe the quantity of tons of Sugar that would be produced in a pure Describe the society optimal quantity tons of sugar that should be Describe two ways that the business can be incentivized to internalize the socialcosts of sugar

If the correct amount of pollution is being produced now, which of the following is true? The average cost of pollution: a. is exactly equal to the average cost of the pollution reduction.b. can be greater than, equal to, or less than the costs of pollution reduction.c. reduction is greater than the cost of the pollution at all levels of pollution.d. reduction is less than the cost of the pollution at all levels of pollution.

What do free riding, the open access outcome, and congestion of a public good all have in common? A. They have double dividends B. They are the result of technological externalities C. They are cases where privatization corrects market failures D. None

The net benefit to society from reducing pollution is equal to Select one: a. the additional benefit plus the additional costs. b. the quantity of pollution, such as the tons of reduction in sulfur dioxide. c. the sum of the benefits of reducing pollution and the costs. d. the difference between the benefits of reducing pollution and the costs.

An emissions standard will work best in which of the following cases? a. The marginal cost of pollution reduction curve is relatively flat. b. The marginal cost of pollution reduction curve is relatively steep. c. All firms have similar equipment and technology. d. The health effects of a pollutant are relatively unknown. e. Firms have very different equipment and technology.

Assessment 1.4 1. Explain What is the connection between natural capital, natural income, and an environmentally sustainable society? 2. Summarize Name the early individuals who had a major impact on the American public’s awareness of the environment and sustainability, and explain their accomplishments. 3. Classify Into which category of environmental worldview would you put the early preservationists? Into which category would you put the early conservationists? 4. Evaluate In the 1970s, public opinion favored cleaning up the environment. Since the 1980s, some members of Congress and industry leaders have fought against environmental laws that regulate the amount of pollution that can be added to the environment. Are they working in the best interests of the public or of corporations?

An external cost arises from the use of fossil fuels because of global warming. If fossil fuels are sold in a competitive market,  A. The marginal social cost of fossil fuels will exceed their marginal private cost. B. The marginal social cost of fossil fuels will be less than their marginal private cost C. The marginal social benefit of fossil fuels  will exceed their marginal social cost D. a and b E. b and c

What would be the likely economic consequences of implementing a carbon tax on industries with high greenhouse gas emissions? A. Decreased production costs for industries. B. Increased investment in renewable energy sources. C. No change in the energy consumption of industries. D. Reduction in government revenue.