Suppose that a proposal is under review to strengthen the, Econometrics

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Suppose that a proposal is under review to strengthen the

Suppose that a proposal is under review to strengthen the NPDWS for benzene, and the associated abatement level would generate a marginal social benefit (MSB) that is greater than the marginal social cost (MSC) by $125,000.

a. On efficiency grounds, should the proposed standard be more stringent or more lenient, and why?

b. Specifically, what does the $125,000 represent?

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Econometrics: Suppose that a proposal is under review to strengthen the

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Econometrics: Suppose that a proposal is under review to strengthen the

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