If the committee wants to maximize the net benefit from reducing acid rain, what is the optimal level of pollution reduction? 3.[5 points] Suppose that a perfectly competitive industry is in long-run equilibrium. Then the price of a complement good decreases. What will happen? A. Next period a typical firm will increase output. B. Next period a typical firm will earn a greater than normal profit. C. Eventually firms will exit the industry.
If the committee wants to maximize the net benefit from reducing acid rain, what is the optimal level of pollution reduction?
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