Question

marginal cost environmental justice free market environmentalism holdout effect free-rider effect marginal benefit equilibrium price positive externality economic efficiency negative externality welfare analysis Pigovian (pollution) tax

Answer 1

si 17 Detu mental impacts of a market transaction affecting those not involved in the transaction ou Negative entunality n d a Positive 12 favorable impacts of a market transaction that aftuct those not I involved in the transaction. entunality I 3 The expense of producing or I consuming one more unt of d. good for Suvice ... all Marginal cost ads _ 14) The value to the consues of I Producing or consuming one more unit of a good of suvice. I I Marginal benefit n o lo n suli Price 5) The market price where the banda l equilibrium 1 quantity supplied equals the artist in Il quantity demanded wooot be availure and 67 An allocation of resouces that manimizu net social benefits, s economic I but reduces the benefits to sout effiliney I both Producers and conswers in a rod ar 0 non free market trac tat la Il Scanned with CamScanner

Welfare analysis 7. An economic tool that analyzn the to tal costs and benefits altunative Policin to diftueat groups, such as Producers and Consweis I free market environmentalism 187 The view that a more complete Systur of proputy rights and enfunded use of market mechanism is the best approach ar I to solving issues of resonice use and pollution control. na cassian Ne rol van 5. 19 fair treatment and meaningful ando sinton involvement of all people regardless Environmental of race, color, national income justice origin, or income with respect to the development, implementation, and enforcement of environmentall the beast laws, regulations and Policies be 11 10 The incentive for people to avoid a paying for a resonce when the free-rider I benefits they obtain from the ani owo effect Inesance are unaffected by how zonda Ana I whether they pay results in the undesupply of public goods. CamSpanner

Il The ability of a single market entity to hinder a multiparty aggrement by making dispno portionate demands. Holdout effect Pigovian (pollution tan 12 A Pu-unit tan set equal to the entunal damage caused by am activity such as tau pu ton of pollution emilted equal to the entunal danage of a ton of Pollution Scanned with CamScanner