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Last updated 11:54 PM on 2/4/26
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4 Terms

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carbon tax

a tax on fossil fuels that aims to encourage the use of clean energy alternative. Does not tax quantity, but taxes emissions.

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<p>Diagram</p>

Diagram

A carbon tax raises MPC to MSC, reducing output to the socially optimal level and correcting overproduction.

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strengths of carbon tax

internalizes external costs, reduces emissions, encourages clean innovation, and raises government revenue.

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limitations

difficult to set correctly, can be regressive, may hurt competitiveness, and may not reduce emissions much.