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Fishing business downstream from the factory

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1. Explain why reducing pollution levels to zero is unlikely to be economically efficient. Use a graph showing a marginal benefit curve and a marginal cost curve to support your explanation.

2. Explain how Coase Theorem could be used to resolve a conflict between a factory that pollutes a river and a fishing business downstream from the factory whose catch rates are reduced by the pollution. Explain your answer using graphs.

3. Can Pigouvian tax can help to increase economic efficiency? Use a supply and demand graph to support your explanation.

Reference no: EM133124742

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