Carbon dioxide is a byproduct of the burning of fossil fuels, something necessary for many modes of transportation and manufacturing processes. It has been asserted by scientists that carbon dioxide is the cause of global warming, which imposes negative externalities on the entire world population. Considering what we've learned about externalities, should human-caused global warming be completely stopped? What is the optimal level of human-made carbon dioxide, compared with the current level?
A) Yes, we should eliminate the entire externality, and human-made carbon dioxide should be zero.
B) Any of the answers could be correct.
C) No, we shouldn't eliminate the entire externality, but the optimal level of human-made carbon dioxide is likely less than today's amount.
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D) No, there's no need to worry about externalities, and the current level of carbon dioxide is optimal.