2a. What is the difference between Kyoto Protocol and Montreal Protocol? 2b. What kind of regulatory design is a Protocol? 1. Self-regulation/Voluntary II. Authoritative 2c. What is currently the threshold of temperature rise that is considered tolerable for human and biotic life to sustained in the long run: 1.5 degree Celsius 3.5 degree Celsius 4.5 degree Celsius 1. I. III.
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- Explain how a global-positioning antitheft device installed by one car owner can produce a positive spillover to thousands of others in a city.Why are CMS.gov compliance projects important?"Since the occurrence of COVID-19 health crisis in Gaza in early 2020, severalexternalities existed during the partial, and complete economic lockdown."Answer the following questions:a. Define externalities.
- onomics 1A Final OSA-1.pdf X + file:///C:/Users/Mpanza/Downloads/Economics 1A Final OSA-1.pdf Question 20 "It's hard for many of us to imagine a world without instant, limitless internet access. Some have even argued that it should, alongside access to clean water and electricity, be considered a basic human right”. The argument above infers that the income elasticity of demand for internet access is most likely to be... a) -5 b) -0.3 - + Automatic Zoom c) 0.18 d) 8 Question 21 The reason that Starlink is able to charge a lower monthly price for their internet service is, according to the extract...Suppose that the world is comprised of two countries: X and Y. Because of the absence of centralized world governance, the control of global externalities is particularly challenging, which is the case with greenhouse gases linked to climate change. The entries in the following Payoff Table describe each country's well-being under different abatement patterns: X\Y No Abate Abate No Abate 12,12 24,8 Abate 8,24 20,20 Since according to scientific evidence, accumulated greenhouse emissions would progressively reduce global well-being, Business as Usual type of behavior may lead to catastrophic outcomes, raising questions about economic sustainability. Provide a definition of this concept and explain why commonly used measures of national economic performance like Gross Domestic Product and Net Domestic Product are not appropriate measures of sustainability. Using the concept of sustainability that you have defined, explain how the use of a non-renewable natural…Suppose that a regulator plans regulate particulate matter (E) from two wood-fired pizza restaurants. The marginal damages from particulate matter are given by MD 5. The marginal abatement cost curves for the two restaurants are: Restaurant 1: MAC₁ = 10 - E₁ ► Restaurant 2: MAC₂ = 6-E2 1. What level of particulate matter will each restaurant emit in the absence of regulation? Illustrate the unregulated equilibrium on a graph. 2. Suppose that the regulator enacts a cap and trade system that caps total emissions at E = 8, and allocates E/2 permits to each restaurant. What would the market price for permits be in this case? Is the outcome efficient? If not, calculate the DWL from the cap and trade system. Illustrate the outcome with cap and trade on a graph. 3. Now suppose that the regulator instead enacts a pollution tax of 6 per unit of particulate matter emitted. Is this policy better for society? Why or why not?
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- Suppose that, in the absence of mitigation, global warming will be plus 1 degree Celsius over the next 50 years. The developed economies and the emerging economies agree on this prediction. They agree that reducing global warming over the next 50 years is a global public good. They agree the marginal cost of reducing global warming is MC = 4 + 10Q trillion U.S. dollars, where Q is the number of degrees Celsius reduction in global warming. The developed economies’ marginal benefit is MBdv = 20 – 15Q trillion U.S. dollars. The emerging economies marginal benefit is MBem = 8 - 5Q trillion U.S. dollars. What is the socially optimal reduction in global warming? Explain."Since the occurrence of COVID-19 health crisis in Gaza in early 2020, severalexternalities existed during the partial, and complete economic lockdown."Answer the following questions: b. Give an example on an externality (domestic or international) that occurredduring COVID-19 economic crisis.What are the positive and negative effects of the decline in economic activities in the natural environment due to the implementation of lockdown?