Pollution is often an unavoidable byproduct of production

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Pollution is often an unavoidable byproduct of production, and is usually (not always!) an external cost of production. Would it be socially efficient to clean up all man-made pollution?

Support your answer with economic reasoning. Answer questions using the marginal abatement cost function analysis and the marginal damage function analysis. Use the concept of the cost curve for both and how they relate.

Why is pollution an external cost? When might pollution NOT be an external cost?

Reference no: EM131244460

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