Presentations

Ch 5 Externalities

Description
Externalities
Categories
Published
of 16
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Related Documents
Share
Transcript
  five   c h a p t e r ARE 201 Hendrickson Externalities, Environmental Policy, and Public Goods     C  H  A  P  T  E  R  5 :   E x  t e r n a  l  i  t  i e s ,   E n v  i r o n m e n  t a  l   P o  l  i c y ,  a n  d  P u  b  l  i c   G o o  d s  2 of 15 Externalities and Efficiency Externality A benefit or cost that affects someone who is not directly involved in the production or consumption of a good or service. The Effect of Externalities Private cost   The cost borne by the producer of a good or service. Social cost  The total cost of producing a good, including both the private cost and any external cost. Private benefit   The benefit received by the consumer of a good or service. Social benefit  The total benefit from consuming a good, including both the private benefit and any external benefit.     C  H  A  P  T  E  R  5 :   E x  t e r n a  l  i  t  i e s ,   E n v  i r o n m e n  t a  l   P o  l  i c y ,  a n  d  P u  b  l  i c   G o o  d s  3 of 15 Externalities and Efficiency HOW A NEGATIVE EXTERNALITY IN PRODUCTION REDUCES ECONOMIC EFFICIENCY 5 - 1 The Effect of Pollution on Economic Efficiency     C  H  A  P  T  E  R  5 :   E x  t e r n a  l  i  t  i e s ,   E n v  i r o n m e n  t a  l   P o  l  i c y ,  a n  d  P u  b  l  i c   G o o  d s  4 of 15 Externalities and Efficiency HOW A POSITIVE EXTERNALITY IN CONSUMPTION REDUCES ECONOMIC EFFICIENCY 5 - 2 The Effect of a Positive Externality on Efficiency
We Need Your Support
Thank you for visiting our website and your interest in our free products and services. We are nonprofit website to share and download documents. To the running of this website, we need your help to support us.

Thanks to everyone for your continued support.

No, Thanks