Currently the Australian Government is aiming to reduce Australia's carbon emissions to 5% below 2000 emissions levelsby 2020.ReformsAEmissions change (compared to 2000 10% increaselevels) by 2020.Total cost for industries to introduce 0reform measures (billions of dollars)BNo change0.3с5%reduction1.2D10% reduction1.5a. If the Government introduced a permit system, resulting in total industry permit costs being $700 million, andcapital investment total costs of $500 million, what would be the expected 2020 pollutions levels compared to 2000levels?. Type LT for Less Than, E for Equal to, or GT = Greater Than.b. Consider the mining sector is responsible for 8% of Australia's overall industry carbon emissions. The Governmentdecides to introduce the reform option D (10% reduction). How much would it cost the mining sector (including bothpermit and capital investment) as a result of introducing this reform? Assume the cost is directly proportionally to allindustries within the Australian economy. Answer to two decimal places in billions of dollars. $billion.c. The Australian Government decides to meet their 2020 emissions goal by issuing permits to polluters. The permitswill cost industries $900 million to buy the required number of permits. Industries need to spend an additional $300million on improving (reforming) their operations and equipment to reduce their carbon emissions under the permitsystem. What is the net cost to society as a result of the Government's approach? Answer to the nearest wholenumber in millions of dollars (with no decimal places). $million.

Reforms A B C D Emission Change 10% increase No Change 5% reduction 10% reduction Total Cost for…

Currently the Australian Government is aiming to reduce Australia's carbon emissions to 5% below 2000 emissions levels by 2020. Reforms Emissions change (compared to 2000 levels) by 2020. A 10% increase Total cost for industries to introduce 0 reform measures (billions of dollars) B No change 0.3 C 5% reduction 1.2 D 10% reduction 1.5 a. If the Government introduced a permit system, resulting in total industry permit costs being $700 million, and capital investment total costs of $500 million, what would be the expected 2020 pollutions levels compared to 2000 levels? Type LT for Less Than, E for Equal to, or GT = Greater Than.

Currently the Australian Government is aiming to reduce Australia's carbon emissions to 5% below 2000 emissions levels by 2020. Reforms Emissions change (compared to 2000 levels) by 2020. A 10% increase Total cost for industries to introduce 0 reform measures (billions of dollars) B No change 0.3 C 5% reduction 1.2 D 10% reduction 1.5 a. If the Government introduced a permit system, resulting in total industry permit costs being $700 million, and capital investment total costs of $500 million, what would be the expected 2020 pollutions levels compared to 2000 levels? Type LT for Less Than, E for Equal to, or GT = Greater Than.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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How might the introduction of a carbon tax affect the behavior of manufacturing industries? A. It would have no effect on their behavior, as taxes are absorbed by consumers. B. It might encourage industries to adopt cleaner, more energy-efficient technologies to reduce tax liabilities. C. It would lead to a significant increase in manufacturing output to offset the tax costs. D. It would cause all manufacturing industries to relocate to countries without a carbon tax.
13. The marginal benefit of being able to emit a ton of sulfur dioxide emissions for two firms are given by: MBx = 1000 – (Ex / 2 ) MBY = 600 – (Ey / 3 ) Note that these marginal benefit figures can be interpreted as marginal cost of abating emission down to levels Ex and Ey. Government regulators want to reduce total sulfur dioxide emissions to a total of 1800 tons. a) If the government imposes the same standard of 900 tons maximum emissions on both firms what would be the total cost of abatement (calculated as the aggregated marginal benefits forgone)? b) If the government distributed 900 tradable pollution permits (one ton each) to each firm what would be the final allocation of these permits after the firms trade them? What would be the total cost of abatement in this latter case?
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