Given a table of info with level of abatement in percent, total cost in dollars, and total benefit in dollars how do you identitfy what the most efficient level of abatement is by general economic criteria?
with this data how do you perform the cost benefit test to tell if at a given percentage level abatement is effiecient?
if someone argues for abatement at 100% but that is not efficient - do you respond that it is not cost effective to society at that level? what is a better responce? please explain
see attached excel spreadsheet. this sounds like natural resource and environmental economics. When dealing with environmental policy economists tend to think of things in terms of marginal costs and marginal benefits instead of supply and demand. Thing of quantity as quantity of abatement in percent terms and price as cost/benefit. You'll need to take your data which is total cost and total benefit and ...
Finding the efficient level of abatement is determined.