Figure: The Socially Optimal Quantity of Emissions from Coal Production) Use Figure The Socially Optimal Quarety of Emissions from Coal Production in the figure, firms are the only beneficiaries of pollution, and costs are borne solely by others in the society. Without government intervention Marginal social cost, marginal social benefit MSC of pollution MSB of pollution Quantity of pollution emissions (tons) $200 O The outcome cannot be determined without more information Otrms will continue to polute until the marginal benefit to them is O firms will continue to pollute until the marginal benatt to them is zero. O the quantity of pollution will be optimal.

Figure: The Socially Optimal Quantity of Emissions from Coal Production) Use Figure The Socially Optimal Quarety of Emissions from Coal Production in the figure, firms are the only beneficiaries of pollution, and costs are borne solely by others in the society. Without government intervention Marginal social cost, marginal social benefit MSC of pollution MSB of pollution Quantity of pollution emissions (tons) $200 O The outcome cannot be determined without more information Otrms will continue to polute until the marginal benefit to them is O firms will continue to pollute until the marginal benatt to them is zero. O the quantity of pollution will be optimal.

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- Suppose, a polluting firm initially discharges 80tons of CO2 emissions into a fishery firm. Without liability law in place, it causes a total damage of say, $22,000 to the fishery. With liability law, it undertakes a scheme to reduce emissions from 80 tons to 50 tons where MAC=MD. But the scheme costs the polluting firm $ 4500. How much the polluting firm can save from the total damage now? Show with graph.
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3. If the government issues tradeable pollution permits, does it matter for economic efficiency (social welfare) whether all firms receive the same amount of permits, or whether some firms receive more permits than others?
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Help plz graph plz 3 8
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