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Optimal Abatement: Part 2
This lecture covers the concept of optimal abatement in environmental economics, focusing on the marginal abatement cost and the optimal level of pollution control. It discusses the trade-offs between economic efficiency and environmental protection, as well as the calculation of the marginal abatement cost. The lecture also explores the impact of different policies on pollution reduction and the importance of setting the right level of abatement. Additionally, it delves into the calculation of the optimal level of pollution control to achieve a balance between economic costs and environmental benefits.