The point of tangency between the ________ which illustrates the trade-off between goods produced in a...

The point of tangency between the ________ which illustrates the trade-off between goods produced in a high-carbon economy and environmental quality and the ________ which indicates the combinations of these two goods that provide citizens of a country the same level of well-being determines the optimal mix of high-carbon goods and environmental quality for that country.

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Answer to the question:

The point of tangency between the Production possibility frontier which illustrates the trade-off between goods produced in a high-carbon economy and environmental quality and the social indifference curve which indicates the combinations of these two goods that provide citizens of a country the same level of well-being determines the optimal mix of high-carbon goods and environmental quality for that country.

Explanation: The PPF shows the trade off between the production of two goods. In environmental context, we can say that as more prduction in the economy takes place, more pollution will be done. Wish will cause the environmental quality to go down. Social indifference curve shows different combination of two goods (Environmental quality and Production of economic goods) which gives same level of satisfaction to the society. The point where they both tendent each other, the general eqillibrium reaches.

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Rahul Sunny answered 1 year ago

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