The study of what ought to be such as determining the socially efficient level of emissions is known as _____________.

Question

Quizplus · Accepted Answer

Normative economics is concerned with determining what ought to be, in contrast to positive economics, which is concerned with describing the world as it is. The question of determining the socially efficient level of emissions is a normative question, as it involves making a judgment about what level of emissions is desirable. The equimarginal principle and the Coase theorem are both concepts from economics, but they are not directly relevant to the question of determining the socially efficient level of emissions.

The Study of What Ought to Be Such as Determining