1.Pollutions control policies such as direct regulation and effluent fees will: Lower consumer prices Raise...

1.Pollutions control policies such as direct regulation and effluent fees will:

Lower consumer prices

Raise the sales of those firms being regulated or taxed

Cause social costs to exceed private costs

Increase the external diseconomies of production

Increase firms’ costs of production

Expert Solution

Solution:-Cause social costs to exceed private costs

Explaintion:- Pollutions control policies such as direct regulation and effluent fees will Cause social costs to exceed private costs.The economics literature on environmental policy makes a compelling case for the use of effluent fees to control polluting activities. This analysis, however, proceeds from the assumption of profit maximizing behavior by polluters. Since (non-profit-maximizing) public agencies are a major source of environmental damage, this paper investigates the likely response of bureaucrats to effluent fees in terms of some extended versions of the Niskanen model of bureaucratic behavior. We find that, at least for a range of plausible cases, such fees can induce significant reduction in polluting activities. The results are sufficiently encouraging to make the extension of fees to public agencies worthy of serious consideration.

Rahul Sunny answered 2 years ago

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