A9. If the total benefit function is B = 192M – 4M^2, the total damage function is D = A2, ⍺ = 0.5 and there is no discounting where: M is the level of emissions. A is the stock of the pollutant. ⍺ is the linear decay rate of A a) What are the steady-state levels of M and A? b) Assuming now that we have some discounting and r = 0.2, where r is the social consumption discount rate. What are the new steady state levels of M and A?

A9. If the total benefit function is B = 192M – 4M^2, the total damage function is D = A2, ⍺ = 0.5 and there is no discounting where: M is the level of emissions. A is the stock of the pollutant. ⍺ is the linear decay rate of A a) What are the steady-state levels of M and A? b) Assuming now that we have some discounting and r = 0.2, where r is the social consumption discount rate. What are the new steady state levels of M and A?

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

A9.

If the total benefit function is B = 192M – 4M^2, the total damage function is D = A2, ⍺ = 0.5 and there is no discounting where: M is the level of emissions. A is the stock of the pollutant. ⍺ is the linear decay rate of A

a) What are the steady-state levels of M and A?

b) Assuming now that we have some discounting and r = 0.2, where r is the social consumption discount rate. What are the new steady state levels of M and A?

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