Following are the marginal abatement costs of three firms, related to the quantity of emissions. Each firm
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Following are the marginal abatement costs of three firms, related to the quantity of emissions. Each firm is now emitting 10 tons/week, so total emissions are 30 tons/week. Suppose we wish to reduce total emissions by 50 percent, to 15 tons per week. Compare the total costs of doing this:
(a) With an equiproportionate decrease in emissions and
(b) With a decrease that meets the equimarginal principle.
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