+1 Oregon legislative committee passes cap-and-trade bill Lawmakers are moving Oregon a step closer to adopting what would be the nation's second economywide carbon pricing scheme, after California. Price and cost (cents per mile) 40- Q S=MC Source: Portland Business Journal, May 17, 2019 35- The transportation sector is Oregon's largest contributor to carbon emissions. 30- Ο Under what conditions would Oregon's carbon pricing scheme reduce carbon emissions to the efficient quantity? Use a graph to illustrate your explanation. Show the effects of setting the price of carbon too low and too high. 25 Ο 20 O The graph shows the market for transportation in Oregon with no cap-and-trade system. On the graph, draw the marginal social cost curve of transportation. Label it. Draw a point to show the outcome of a cap-and-trade system that results in an efficient amount of emissions. Label it 1. Draw a point to show the outcome when the price of a permit is too low. Label it 2. Draw a point to show the outcome when the price of a permit is too high. Label it 3. 15- 10- D=MB 100 200 300 400 500 600 700 800 Quantity /theande of milacl

+1 Oregon legislative committee passes cap-and-trade bill Lawmakers are moving Oregon a step closer to adopting what would be the nation's second economywide carbon pricing scheme, after California. Price and cost (cents per mile) 40- Q S=MC Source: Portland Business Journal, May 17, 2019 35- The transportation sector is Oregon's largest contributor to carbon emissions. 30- Ο Under what conditions would Oregon's carbon pricing scheme reduce carbon emissions to the efficient quantity? Use a graph to illustrate your explanation. Show the effects of setting the price of carbon too low and too high. 25 Ο 20 O The graph shows the market for transportation in Oregon with no cap-and-trade system. On the graph, draw the marginal social cost curve of transportation. Label it. Draw a point to show the outcome of a cap-and-trade system that results in an efficient amount of emissions. Label it 1. Draw a point to show the outcome when the price of a permit is too low. Label it 2. Draw a point to show the outcome when the price of a permit is too high. Label it 3. 15- 10- D=MB 100 200 300 400 500 600 700 800 Quantity /theande of milacl

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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