Assume that scientific studies provide you with the following information concerning the benefits and costs of sulfur dioxide emissions:
a. What is the socially efficient level of emissions abatement?
b. What are the marginal benefit and marginal cost of abatement at the socially efficient level of abate- ment?
c. What happens to net social benefits (benefits minus costs) if you abate one million more tons than the efficient level? One million fewer?
d. Why is it socially efficient to set marginal benefits equal to marginal costs rather than abating until total benefits equal total costs?