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November 28, 2022

Explain the difference between fixed-production technology and variable technology. Should the government set a goal of reducing the marginal social cost of pollution to zero in industries with-fixed production technology?

Explain the difference between fixed-production technology and variable technology. Should the government set a goal of reducing the marginal social cost of pollution to zero in industries with-fixed production technology? Should they do that in industries with variable technology?

– What is the Lorenz curve? What does the Lorenz curve in Exhibit 2 illustrate?

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