Question E4/Stretch Problem If we apply the idea of nitrate contamination (the context of the Unit 3 model) to the negative externality context, describe and explain how the use of a tax to move the market to a social equilibrium compares to the idea of getting to the optimal level of abatement (or the optimal level of contamination) through a government's policy choice. That is, compare and contrast the objectives of the government as well as the mechanisms involved in the two different approaches of the two different models. NOTE: This problem is designed to see how you look at the problem and less focused on getting everything right. If you are short of time, you may want

Question E4/Stretch Problem If we apply the idea of nitrate contamination (the context of the Unit 3 model) to the negative externality context, describe and explain how the use of a tax to move the market to a social equilibrium compares to the idea of getting to the optimal level of abatement (or the optimal level of contamination) through a government's policy choice. That is, compare and contrast the objectives of the government as well as the mechanisms involved in the two different approaches of the two different models. NOTE: This problem is designed to see how you look at the problem and less focused on getting everything right. If you are short of time, you may want

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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please answer both of the questions thank you! =)