The figure below shows the marginal benefit to consumers,MB,the marginal cost to private firms,MCP,and the marginal cost to society,MCS,at each level of output of some good.
FIGURE 17- 1
-Consider the following equation: GHG = GHG × Energy × GDP,
Energy GDP
Where GHG = world annual emissions of greenhouse gases Energy = world annual amount of energy consumed GDP = world's annual gross domestic product
The ratio Energy/GDP describes
A) the number of units of carbon- based energy produced as a fraction of GDP.
B) the amount of energy used per unit of output in the energy- intensive sector of the economy.
C) the number of units of energy used per dollar of GDP produced.
D) the energy efficiency of greenhouse gas emissions.
E) the amount of energy per unit of GDP required to stabilize greenhouse gas emissions.
Correct Answer:
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