represents the supply curve when the firm is required to account for the social cost of pollution. Identify

the equilibrium before the social cost of production is included and after the social cost of production is

included.

Price

Quantity

Quantity Supplied without paying the

Quantity Supplied after paying the

Demanded

cost of the pollution

cost of the pollution

$10

450

$15

440

$20

430

$25

420

$30

410

TABLE 12.5

400

440

480

520

560

250

290

330

370

410

5. Consider two approaches to reducing emissions of CO2 into the environment from manufacturing

industries in the United States. In the first approach, the U.S. government makes it a policy to use only

predetermined technologies. In the second approach, the U.S. government determines which technologies

are cleaner and subsidizes their use. Of the two approaches, which is the command-and-control policy?
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