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- 4. Understanding different policy options to correct for negativeexternalities Carbon dioxide emissions have been linked to increased air pollution. The following table lists some possible public policies aimed at reducing the amount of carbon dioxide in the air. For each policy listed, identify whether it is a command-and-control policy (regulation), tradable permit system, corrective subsidy, or corrective tax. Command- and- Tradable Permit System Corrective Tax Control Corrective Public Policy Policy Subsidy The government agrees to reimburse all factories that purchase new, emissions-reducing technology in order to provide cleaner air. The government limits total carbon-dioxide emişsions by all factories to 120,000 tons per month. Each individual factory is given the right to emit 110 tons of carbon dioxide, and factories may buy and sell these rights in a marketplace. The government charges factories $400-for every ton of carbon dioxide they emit. The government orders every…In a far away country called Monopolyland, there is only one producer of board games. The market demand for board games is P = 800 - Q and CMg = 50 + Q.(a) Determine the price and quantity of board games traded in this country. (Hint: IMg = 800 - 2Q)(b) Determine the social loss incurred by the existence of this monopoly.(c) What action should the country's authority take to maximise social welfare? What quantity and price would there be in this case?3. Externalities. Consider a firm that causes pollution in a lake affecting a group of individuals. The production cost of the firm is c(q) = cq²/2, where c> 0 and q is the quantity produced by the firm, and the total cost imposed on the individuals (adding the costs suffered by each of them) is (q) = pq²/2, where > 0. (a) Suppose initially that the firm cannot bargain, trade, or otherwise compensate the individuals. Calculate the profit maximizing choice of output by the firm, the revenue of the firm, the private cost of the firm, the externality that the firm imposes over the individuals, and the total social cost. (b) Suppose now that the individuals affected by pollution in the lake own the lake, and that they organize to sell pollution permits, with a price of p, so that the firm must pay p per unit of output. Find the competitive price of pollution permits, as well as the profit max- imizing choice of output by the firm if the firm must buy pollution permits and buys them at the…
- How would you best characterize which class of value a polar bear in the Arctic might represent to most people for purposes of environmental valuation? а. direct use value O b. property value Ос. O c. replacement cost value d. existence value5. Productivity declines from environmental regulation a) might occur if firms divert capital from spending on new plant and equipment to comply with regulations. b) have been ruled out by economic studies. c) for well over half of the productivity declines of the 1970s. d) might occur if firms invest in new capital sooner than they otherwise would to comply with regulations. e) have cost large numbers of jobs in manufacturing. 6. Consider the diagram, what is the efficient level of pollution cleanup? Total Benefits of $100 Cleanup $75 $50 Total Costs of $25 Cleanup $0 2. Polution Cleanup (tona)List two advantages a command-and-control policy has over a pollution tax policy. (ii) List two advantages a pollution tax policy has over a command-and-control policy.
- 14- Which among the following is a communication barrier that arises due to faulty translation and understanding? a. Interpersonal barrier b. Semantic barriers c. Structural barrier d. Emotional barriersPaper work review on; Mechanism that give birth to environmental problems.4. Understanding different policy options to correct for negativeexternalities Carbon dioxide emissions have been linked to melting of sea ice. The following table lists some potential regulations targeting the amount of airborne carbon dioxide. For each policy listed, identify whether it is a command-and-control policy (regulation), tradable permit system, corrective subsidy, or corrective tax. Tradable Permit System Public Policy The government limits total carbon-dioxide emissions by all factories to 260,000 tons per five years. Each individual factory is given the right to emit 230 tons of carbon dioxide, and factories may buy and sell these rights in a marketplace. Trees take carbon dioxide out of the air and convert it to oxygen, so the government funds a tree-planting initiative by offering $440 to any citizen who plants a tree. The government orders every factory to adopt a new technology, which reduces carbon-dioxide emissions into the atmosphere. The government charges…
- 10. Understanding different policy options to correct for negativeexternalities Carbon dioxide emissions have been linked to worsening climate conditions. The following table lists some possible public policies aimed at reducing the amount of carbon dioxide in the air. For each policy listed, identify whether it is a command-and-control policy (regulation), tradable permit system, corrective subsidy, or corrective tax. Tradable Corrective Subsidy Command-and- Permit Corrective Public Policy Control Policy System Tax The government limits total carbon-dioxide emissions by all factories to 180,000 tons per decade. Each individual factory is given the right to emit 140 tons of carbon dioxide, and factories may buy and sell these rights in a marketplace. Trees take carbon dioxide out of the air and convert it to oxygen, so the government funds a tree-planting initiative by offering $110 to any citizen who plants a tree. The government charges factories $110 for every ton of carbon dioxide…17 Which of these is true about GDP and environment protection? a. An increase in GDP means an increase in environment spending b. An increase in GDP means a decrease in environment spending c. Government spending for protecting the environment is part of GDP d. Government spending for protecting the environment is not a part of GDPWhat is the importance of the enforcement private property rights as it relates to the mitigation of market failure & supporting conservation ?