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What should the government set their corrective tax to if they want to eliminate 7 units of pollution?
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- Is zero pollution an optimal goal? Way or why not?There are three industrial firms in Happy Valley.FirmInitial PollutionLevelCost of ReducingPollution by 1 UnitA 30 units $20B 40 units $30C 20 units $10The government wants to reduce pollution to 60 units,so it gives each firm 20 tradable pollution permits.a. Who sells permits and how many do they sell?Who buys permits and how many do they buy?Briefly explain why the sellers and buyers are eachwilling to do so. What is the total cost of pollutionreduction in this situation?b. How much higher would the costs of pollutionreduction be if the permits could not be traded?Table 16.1 shows the situation facing two firms, both of which are polluting. Assume that each firm emits 5 units of pollution. Table 16.1 Firm A Firm A Firm A Firm B Firm B Firm B MC of TC of Reduction of reducing MC of TC of reducing Pollution by pollution for pollution for Pollution by pollution for pollution for Reduction of reducing reducing Firm A Firm A Firm A Firm B Firm B Firm B 1 $4 $4 1 $8 $8 10 12 20 9. 19 3 16 36 4 13 32 4 20 56 5 18 50 5 24 80 Refer to Table 16.1. Suppose the government wants to reduce the total amount of pollution from the current level of 10 to 4. To do this, the government caps each firm's emissions at 2 units and issues 2 permits to each firm. Which of the following are true? (Select all that apply.) O a. Firm B would be willing to pay $16 to buy a pollution permit O b. Firm A would be willing to sell a pollution permit for $9 O c. Firm B would be willing to sell a pollution permit for $9 O d. If trading is allowed, the total cost of reducing…
- EOC 11.04 Two businesses, X and Y, each dump 20 tonnes of pollution into a creek. In an effort to reduce pollution, the government will now require businesses to have a pollution permit to dump pollutants in the creek. Each business receives 10 pollution permits and they can use it to pollute or sell it to the other business (but lose the ability to pollute). To reduce pollution it costs business X $100 per tonne of pollutant eliminated and it costs business Y $50 per tonne of pollutant eliminated. Once the two businesses have traded these permits with each other, what is the likely outcome? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a business X emits 10 tonnes of pollutants and business Y emits 10 tonnes of pollutants. b business X no longer pollutes, and business Y will not lower the amount it pollutes. business X raises its pollution, and business Y will lower how much it pollutes. business Y no longer pollutes, and…MAC of reducing SO2 emission Tons of SO2 Firm 1 Firm 2 Firm 3 1st 3 2 2nd 12 6 4 Зrd 18 9 6. 4th 24 12 8 5th 30 15 10 6th 36 18 12 The table shows the marginal abatement costs of reducing SO2 pollution. Each firm is emitting 6 tons of SO2 into the air currently. QUESTION 3 Suppose the government doesn't know each firm's costs of abatement. The socially efficient or least cost of reducing the pollution from 18 tons to 6 tons can be brought about by a per-unit SO2 tax of O 13 O 4 O 7 8how can high-income countries benfit from covering much of the cost of reducing pollution created by low income countries?
- Macmillan Learning The accompanying graph depicts the marginal social cost (MSC) and marginal social benefit (MSB) of pollution emissions. Move the point, P, to the point representing the optimal level of pollution. What is the optimal quantity of pollution? metric tons The optimal quantity of pollution is not zero because: 1,000 Dollars 900 800 700 600 500 400 300 200 100 0 27 2 P 3 4 5 6 Metric tons of pollution 7 8 9 MSC MSB 109. There are three industrial firms in Happy Valley. Initial Pollution Cost of Reducing Firm Level Pollution by 1 Unit A 30 units $20 B 40 units $30 C 20 units $10 The government wants to reduce pollution to 60 units, so it gives each firm 20 tradable pollution permits. a. Who sells permits and how many do they sell? Who buys permits and how many do they buy? Briefly explain why the sellers and buyers are each willing to do so. What is the total cost of pollution reduction in this situation b. How much higher would the costs of pollution reduction be if the permits could not be traded? nswersc. The government requires that auto manufacturers limit pollution to a specified threshold. tradable pollution permits O corrective tax command-and-control regulation private property rights
- 9. There are three industrial firms in Happy Valley. Initial Pollution Cost of Reducing Firm Level Pollution by 1 Unit A 30 units $20 40 units $30 C 20 units $10 The government wants to reduce pollution to 60 units, so it gives each firm 20 tradable pollution permits. a. Who sells permits and how many do they sell? Who buys permits and how many do they buy? Briefly explain why the sellers and buyers are each willing to do so. What is the total cost of pollution reduction in this situation? b. How much higher would the costs of pollution reduction be if the permits ould not be traded? Answers9. There are three industrial firms in Happy Valley. Initial Pollution Cost of Reducing Firm Level Pollution by 1 Unit A 30 units $20 40 units $30 C 20 units $10 The government wants to reduce pollution to 60 units, so it gives each firm 20 tradable pollution permits. a. Who sells permits and how many do they sell? Who buys permits and how many do they buy? Briefly explain why the sellers and buyers are each willing to do so. What is the total cost of pollution reduction in this sittation? b. How much higher would the costs of pollution reduction be if the permits could not be traded? nswers22. Discuss the benefits and drawbacks associated with using a corrective tax to control pollution.
