Why is it efficient to have different amounts of reduction

Reference no: EM13192750

Many observers believe that the levels of pollutionin our society are too high.

a. If society wishes to reduce overall pollutionby a certain amount, why is it efficient to have different amounts of reduction at different firms?

b. Command-and-control approaches often relyon uniform reductions among firms. Why are these approaches generally unable totarget the firms that should undertake biggerreductions?

c. Economists argue that appropriate corrective taxes or tradable pollution rights will result in efficient pollution reduction. How do these approaches target the firms that should undertake bigger reductions?

Reference no: EM13192750

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