Explain how the marginal principle nd the pollution tax work

Reference no: EM13236622

a)Explain how the marginal principle and the pollution tax work together to determine the optimal amount of pollution abatement.

b)Economists say that labor demand is a derived demand. Explain the concept of derived demand.

c)Compare and contrast the price/output decisions of profit-maximizing firms in a perfectly competitive market versus those of a monopolistically competitive market.

Reference no: EM13236622

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