A formulation of air and water quality control models for a hypothetical regional economy and an evaluation of the likely economic results of different policies of pollution control enforcement. Emphasis is on a cost-benefit analysis of the treatment of industrial waste emissions. The environmental quality standards define maximally allowed pollution loads at particular points in the atmosphere and streams. Implications of these standards in the model focus upon two related goals: (1) a policy objective, which estimates optimal degrees of waste abatement, and (2) an efficiency objective, which determines the optimal allocation of scarce resources in the economy. The development of models to identify and measure relevant economic impacts is necessary to improve comprehension and to devise meaningful policies on protecting the environment. 47 pp. Ref.
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