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Botan Bravo
on Nov 25, 2024

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From an economist's perspective, an important consideration for policies to address global warming is

A) the market for recyclable inputs.
B) the supply and demand for recycled products.
C) the marginal cost and marginal benefit of the policies.
D) a lawsuit that can arise from the enactment of the policies.

Marginal Cost

The change in total cost that arises when the quantity produced is incremented by one unit, essentially the cost of producing one additional unit of a good.

Global Warming

The long-term rise in Earth's average surface temperature due to human activities, particularly the emission of greenhouse gases, leading to climate change.

Marginal Benefit

The boost in value or pleasure gained from the consumption of one more unit of a good or service.

  • Understand the effects of externalities in economic transactions and the concept of social cost versus social benefit.
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AB
Aiden BedockNov 29, 2024
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