Question:

What are the costs and benefits of pollution? According to economics?

by Guest63262  |  earlier

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Please answer in an economics format!

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2 ANSWERS


  1. it costs $144 to pick up empty beer cans at school


  2. Pollution is a by-product of another activity. Be it driving, production of goods, or other. In economics, it would be considered an externality.

    The benefits associated with this activity would lie in the production and profits associated with the activity that causes pollution. So, for a firm producing widgets, the gain would be the profit from the widget less the cost of pollution.

    As for costs, once again pollution is an externality. In unregulated industries, the monetary costs would be negligible. However, the social cost associated with pollution would relate to the negative influences on health and climate.

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