Lec7 Coase - Efficient Polluting: How to Get It, Part 1...

Info iconThis preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon
Efficient Polluting: How to Efficient Polluting: How to Get It, Part 1 Get It, Part 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Administrative Stuff Administrative Stuff MLK Day activities http://www.mlksymposium.umich.edu/ No Lecture or Discussion Monday 1/21 Sit in on another section, space allowing Read Article for discussion section Next homework to be posted Due Mon. 2/4 Last Add/Drop Day Wed. 1/25
Background image of page 2
Last Time Last Time Efficient polluting Input choice problem
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Totals and Marginals Totals and Marginals Pollution* Pollution $ Costs Benefits Pollution, Unregulated Pollution $/Pollution Marginal Benefit Pollution, Unregulated Marginal Cost Pollution*
Background image of page 4
Today: Addressing the Pollution Today: Addressing the Pollution Problem Problem The input problem, continued Market effects Coase
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
How Much of Each Input to Use? How Much of Each Input to Use? Isocost Line: TC = w L L + w M M L = TC/w L – (w M /w L )M Machinery Labor Isoquant Q = 5 TC/w L -w M /w L L* M*
Background image of page 6
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/02/2008 for the course ECON 370 taught by Professor Helfand during the Winter '08 term at University of Michigan.

Page1 / 16

Lec7 Coase - Efficient Polluting: How to Get It, Part 1...

This preview shows document pages 1 - 7. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online