Please solve them in details and use the provided answers in green to double check your answers. 2. Country X has carbon emission of 5000 units per year. The country is involved with Paris Agreementand will strive to reduce the emission of pollutants by 80%. The country has decided that theappropriate strategy is a permit system. (These problems are all sequential)How many permits should the government provide?1000 permitsa.b. How many pollutants should be cleaned up every year?4000 unitsAssume that the marginal benefit of abatement and the marginal cost is as followed:с.MBAbatement500 – 0.5QAbatementMCAbatement2QAbatementFind the total cost of abatement that would be done due to the permit system!16,000,000 unitsd. In terms of welfare, do you think this policy is efficient?Noe. How many permits should be provided by the government to be efficient?4800 permits

Total Emission = 5000 Target Reduction = 80% a .), Desired Level of emission = (1 - 0.80 )*5000 =…

2. Country X has carbon emission of 5000 units per year. The country is involved with Paris Agreement and will strive to reduce the emission of pollutants by 80%. The country has decided that the appropriate strategy is a permit system. (These problems are all sequential) a. How many permits should the government provide? 1000 permits b. How many pollutants should be cleaned up every year? 4000 units C. Assume that the marginal benefit of abatement and the marginal cost is as followed: MBAbatement 500 – 0.5QAbatement

2. Country X has carbon emission of 5000 units per year. The country is involved with Paris Agreement and will strive to reduce the emission of pollutants by 80%. The country has decided that the appropriate strategy is a permit system. (These problems are all sequential) a. How many permits should the government provide? 1000 permits b. How many pollutants should be cleaned up every year? 4000 units C. Assume that the marginal benefit of abatement and the marginal cost is as followed: MBAbatement 500 – 0.5QAbatement

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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