A government plans to plant a new forest to provide a recreation facility and help combat climate change. Estimates of the costs and benefits are shown in Table 1. Table 1 Private Social Private costs Social costs benefits benefits £ million 13 9 14 16 From the figure in Table 1, it can be concluded that the forest project will have A negative production externalities of £9 million. B positive consumption externalities of £16 million. C positive production externalities of £4 million. D total externalities of £25 million. 0000
A government plans to plant a new forest to provide a recreation facility and help combat climate change. Estimates of the costs and benefits are shown in Table 1. Table 1 Private Social Private costs Social costs benefits benefits £ million 13 9 14 16 From the figure in Table 1, it can be concluded that the forest project will have A negative production externalities of £9 million. B positive consumption externalities of £16 million. C positive production externalities of £4 million. D total externalities of £25 million. 0000
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter12: Environmental Protection And Negative Externalities
Section: Chapter Questions
Problem 10SCQ: Suppose a city releases 16 million gallons of raw sewage into a nearby lake. Table 12.8 shows the...
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