2. Suppose that you are asked to conduct a cost-benefit study of a proposed nucl

Question

2. Suppose that you are asked to conduct a cost-benefit study of a proposed nuclear power plant. The plant will be constructed on a major river located 30 miles from New York City. It will require a substantial amount of water for its cooling system. Economic development directors in the region argue that the power generated by the plant is urgently needed. Residents are concerned about having such a plant in proximity.

How would you evaluate the social and environmental costs of the plant and weigh them against the economic benefits? This question does NOT require that you come to a conclusion regarding whether or not the plant should be built. Instead, it requires that you discuss the factors that you would take into consideration in creating a cost-benefit analysis as well as the challenges you would face in so doing.

Explanation / Answer

The social and environmental costs of the plant and weight them against the economic benefits. It helps in creating good policy for people to invest in infrastructure and housing. It also increases the income and wages of employees. If the demand and supply in the market increases.

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