Corrective taxes and tradable pollution permits are which type of policies?

Q: The following companies all manufacture widgets and dump tons of glop into the air. Manufacturer…

A: To calculate the total cost of cleanup for Smog Brothers, Inc. after the exchange of permits, we…

Q: Comparing Private and Socially Optimal Outcomes with Externalities in a Table: Interactive Practice…

A: Negative externalities means the effect of economic activities on other person's wellbeing…

Q: Efficiency in the presence of externalities

A: Efficiency cannot be achieved in the presence of externalities. Because in externalities someone is…

Q: Why do economists care about positive externalities?

A: The externalities are the additional costs or benefits experienced by the person who is not a part…

Q: Which externality is the most threatening when it comes to pig farming?

A: An externality is an act where the third party gets affected by the transaction (production or…

Q: Why free-market environmentalism is not implemented?

A: Free market environmentalism would cause decrease in production of many firms.

Q: Briefly discuss the shortcomings of environmental command-and-control regulations.

A: Command and control guidelines or regulations, center around forestalling ecological issues by…

Q: What assumptions do economists make? Why does each assumption matter in environmental economics?

A: Economics: It is related to the production, distribution, and consumption of goods and services.

Q: Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey…

A: Industrial economics is the study and appraisal of business financial issues utilizing abstract…

Q: What are the economic benefits of Hawaii's water pollution policy?

A: Water pollution is pollution that occurs when harmful substances mix in the water bodies.

Q: Give an example of a negative externality that you have witnessed or are personally aware of. Who is…

A: One day, one of my neighbors was smoking in a public park with kids around. His smoking was…

Q: Draw a graph of water pollution as a negative externality and explain it

A: An economy wanted to produce maximum number of goods in a short time frame. It makes the producers…

Q: Market demand is MWTP= 50 - 2Q. Market supply is MC = 19 + 4Q. Each unit transacted results in a $5…

A: To find the socially optimal quantity of production (Q*), we need to equate the marginal social cost…

Q: externalities

A: ‘Externality’ is a cost or benefit that a person or a community receives but they have no control…

Q: Draw a correctly labeled graph showing a market with a positive externality. Label Demand, MPB, MSB,…

A: Externality refers to the cost or benefit derived from an activity but does not accrue to the…

Q: Compare and contrast the three major approaches to environmental policy: lawsuits,…

A: Environmental economics is the study of the economics of environmental protection and the economic…

Q: Describe how government actions can lead to more efficient outcomes when negative and positive…

A: Externalities are certain benefits or losses accrue to a third person who is not involved in the…

Q: What are some pros and cons of being an environmental economist?

A: pros:-  the advantage of being an environmental economist is that is a great profession and can do…

Q: A system of tradable emissions permits ("cap and trade") ensures that: those who can reduce…

A: Tradable emission permits are caps and trade schemes that give firms a legal right to pollute a…

Q: Summarize the effects of the Clean Air Act on U.S. air pollution.

A: CAA involves emissions trading, valuation and cost-effective strategies which are economic…

Q: What happens in the market for a good that pollutes the air when it is manufactured if government…

A: When the government imposes tax on consumer during the purchase of goods, then it leads to increase…