Consider the following graph that shows the marginal abatement cost (MAC) curve for a coal power plan for reducing local air pollution and the marginal damage (MD) curve for those living around the coal power plant. MD (E) MAC (E Emissions E-0 EI E-Max AMax A-0 Or Abatement What are the total abatement costs at E' (enter your answer with the letters and "+" signs as "a+b+c+d+e+f", without the quotation marks What are the total abatement costs at E-0 (enter your answer with the letters and signs as as "a+b+c+d+e+f% without the quotation marks If the property rights were with the coal power plant how much Emissions would we see? (enter one of the following, "E-0", "E", "E1", "E-Max") how much Emissions would we see?

Consider the following graph that shows the marginal abatement cost (MAC) curve for a coal power plan for reducing local air pollution and the marginal damage (MD) curve for those living around the coal power plant. MD (E) MAC (E Emissions E-0 EI E-Max AMax A-0 Or Abatement What are the total abatement costs at E' (enter your answer with the letters and "+" signs as "a+b+c+d+e+f", without the quotation marks What are the total abatement costs at E-0 (enter your answer with the letters and signs as as "a+b+c+d+e+f% without the quotation marks If the property rights were with the coal power plant how much Emissions would we see? (enter one of the following, "E-0", "E", "E1", "E-Max") how much Emissions would we see?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1) Since Mr. Leon polluted a lake the government has to clean up his mess. The following are the total benefits and costs associated with cleaning up his mess. % Cleaned Total Benefits Total Costs 20 50,000 500 40 90,000 1500 60 100,000 3,000 80 107,000 10,000 100 110,000 20,000 A)What amount should the government clean up? To answer this you must first calculate the marginal benefits and marginal costs associated with the clean up of the lake.
No hand written solution Afirm has an industrial plant that emits pollutants into a town’s lake. The plant’s marginal abatement function is MAC= 200 – 0.5E and damages caused by its emissions are given by MD = 2E where emissions are in kg. per day. What is the socially efficient level of emissions from this plant? Illustrate this in a graph. As an incentive to reduce emissions to the socially efficient level, government offers to pay the firm for each kg. of emissions it abates per day from this plant. What subsidy per kg. should the government offer? If the plant abates to the socially efficient level of emissions, what total subsidy payment would the firm receive? Identify the area in your graph. How much better or worse off would the firm be compared to if it did no abating? Identify the area in your graph. What would be the net benefit to society if we pay the firm to reduce the plant’s emissions to the socially efficient level? Identify this area in your graph.
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Can you assist me with the question using the table.
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