Example of consumer surplus, Microeconomics

Example: The Value of Clean Air

Air is free in sense that we do not pay to breathe it.

Question: Are benefits of cleaning up air worth the costs?

People pay extra to buy houses where the air is clean.

  • Data for house prices among the neighborhoods of New York and New Jersey were compared with the various air pollutants.

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Posted Date: 10/10/2012 7:47:55 AM | Location : United States







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