A benefit-based standard
A) is one that balances social benefits with social costs, at the margin
B) achieves allocative efficiency
C) achieves a cost-effective level of pollution abatement
D) is set to improve society's well-being without consideration for costs

Question

Quizplus · Accepted Answer

A benefit-based standard focuses on improving society's well-being without necessarily considering the costs involved.

A Benefit-Based Standard