1 answer

Suppose the production of pork products in southeastern NC causes pollution in rivers and streams. This...

Question:

Suppose the production of pork products in southeastern NC causes pollution in rivers and streams. This pollution imposes cos

Suppose the production of pork products in southeastern NC causes pollution in rivers and streams. This pollution imposes costs on residents in the form of adverse effects on human and environmental health and reductions in property values. If this pollution is unregulated, which of the following is true regarding the market for pork products? Pork products will be over-produced and over-priced relative to the efficient price and quantity. O Pork products will be under-produced and over-priced relative to the efficient price and quantity. Pork products will be under-produced and under-priced relative to the efficient price and quantity. Pork products will be over-produced and under-priced relative to the efficient price and quantity.

Answers

Ans. Pork products will be over-produced and under-priced relative to the efficient price and quantity.

Since the producers of pork are able to produce at lower costs due to no pollution tax, they will be able to lower down the price of the pork and hence produce larger units of pork products.

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