If a society wants to get the most out of the available resources, money should be spent on pollution control (A) until pollution has been completely eliminated. (B) as long as it is possible to use technology to reduce pollution. (C) as long as the marginal benefit of reducing pollution is greater than the marginal cost of cleaning it up. (D) until the cost of reducing pollution is less than the cost of growing food.

Question

Mylie Hernandez

Business

21 July, 09:20

If a society wants to get the most out of the available resources, money should be spent on pollution control (A) until pollution has been completely eliminated. (B) as long as it is possible to use technology to reduce pollution. (C) as long as the marginal benefit of reducing pollution is greater than the marginal cost of cleaning it up. (D) until the cost of reducing pollution is less than the cost of growing food.

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Sharon Delgado · Answer 1

Answer: Option C

Explanation: The maximum amount of money that a consumer is willing to pay for having an additional unit of a good or service is called the marginal benefit. Whereas, marginal cost refers to the increase in total cost when one more unit of output is produced.

In the given case, we want to use the available resources at their best, therefore, the money on pollution control should be spent only until the benefit of spending one more dollar is greater than the cost of doing so.

Hence, the correct option is C.