protection possibility curve represent?

28. What does a point inside the production possibility frontier represent?

Critical Thinking Questions

29. Suppose you want to put a dollar value on the external costs of carbon emissions from a power plant. What

information or data would you obtain to measure the external [not social] cost?

30. Would environmentalists favor command-and-control policies as a way to reduce pollution? Why or why

not?

31. Consider two ways of protecting elephants from poachers in African countries. In one approach, the

government sets up enormous national parks that have sufficient habitat for elephants to thrive and

forbids all local people to enter the parks or to injure either the elephants or their habitat in any way. In a

second approach, the government sets up national parks and designates 10 villages around the edges of

the park as official tourist centers that become places where tourists can stay and bases for guided tours
{"upload_timestamp": "2026-02-07T15:24:38.309401", "source": "downloads\\business\\economics\\Microeconomics3e.pdf", "moddate": "2022-12-07T14:23:05-06:00", "file_type": ".pdf", "creator": "PDFMiner", "file_hash": "830b81f41611ac67a490444dbb5d6aed292224606965b06965b914443c93331a", "title": "Principles of Microeconomics 3e", "file_name": "Microeconomics3e.pdf", "producer": "Prince 14.2 (www.princexml.com)", "creationdate": "2022-12-07T14:15:44-06:00", "uploaded_via": "batch_uploader", "batch_upload": true, "file_size_mb": 26.99, "source_file": "downloads\\business\\economics\\Microeconomics3e.pdf", "total_pages": 597}