Environmental Economics 6th Edition by Martha k Field,Barry Field

Exercise 5

Most industries are composed of firms that, though perhaps producing roughly the same thing, are very different; some are large and some small; some are profitable and others not; some are located in one part of the country and some in others; some perhaps have undertaken a certain amount of voluntary emissions reductions and some have not; and so on. How does this complicate the job of estimating the total social costs of pollution-control regulations?