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straight-line demand curve? Quantity: tonnes b. Suppose government were to set a fee of $3.000 per pollution permit. How many tonnes of pollutants would now be dumped? What is the total revenue received by government? Quantity [ tonnes Total revenue: $[ c. Suppose that a new technology allows for a significant reduction in hydrocarbons at a relatively low cost so that the demand for pollution permits in the industrial park drops by 200 tonnes. Assuming that government holds the permit fee at $3,000, how many tonnes of pollutants would now be dumped? What would be the total revenue received by government? Quantity: [ ]tonnes Total revenue: $

straight-line demand curve? Quantity: tonnes b. Suppose government were to set a fee of $3.000 per pollution permit. How many tonnes of pollutants would now be dumped? What is the total revenue received by government? Quantity [ tonnes Total revenue: $[ c. Suppose that a new technology allows for a significant reduction in hydrocarbons at a relatively low cost so that the demand for pollution permits in the industrial park drops by 200 tonnes. Assuming that government holds the permit fee at $3,000, how many tonnes of pollutants would now be dumped? What would be the total revenue received by government? Quantity: [ ]tonnes Total revenue: $

Human Anatomy & Physiology (11th Edition)
Human Anatomy & Physiology (11th Edition)
11th Edition
ISBN:9780134580999
Author:Elaine N. Marieb, Katja N. Hoehn
Publisher:Elaine N. Marieb, Katja N. Hoehn
Chapter1: The Human Body: An Orientation
Section: Chapter Questions
Problem 1RQ: The correct sequence of levels forming the structural hierarchy is A. (a) organ, organ system,...
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The table below shows the demand for pollution permits to emit hydrocarbons in a particular industrial park. Each permit allows the owner to release one tonne of pollutants into the atmosphere. Price per Pollution Permit $4,000 3,500 3,000 Quantity of Permits 200 400 600 2,500 2,000 1,500 8ee 1,800 1, 200 1,400 1,000 a. If no fee for a pollution permit were charged, how many tonnes of pollutants would be discharged into the atmosphere, assuming a straight-line demand curve? Quantity: tonnes b. Suppose government were to set a fee of $3,000 per pollution permit. How many tonnes of pollutants would now be dumped? What is the total revenue received by government? Quantity: tonnes Total revenue: $ c. Suppose that a new technology allows for a significant reduction in hydrocarbons at a relatively low cost so that the demand for pollution permits in the industrial park drops by 200 tonnes. Assuming that government holds the permit fee at $3,000, how many tonnes of pollutants would now be dumped? What would be the total revenue received by government? Quantity: tonnes Total revenue: $ d. After the change in demand in (c), what would happen if, instead of maintaining the fee of $3.000. government wants to maintain the same level of pollutants as in (b)? What fee would it have to charge, and what would be its new revenue? Fee: $ Total revenue: $
Transcribed Image Text:The table below shows the demand for pollution permits to emit hydrocarbons in a particular industrial park. Each permit allows the owner to release one tonne of pollutants into the atmosphere. Price per Pollution Permit $4,000 3,500 3,000 Quantity of Permits 200 400 600 2,500 2,000 1,500 8ee 1,800 1, 200 1,400 1,000 a. If no fee for a pollution permit were charged, how many tonnes of pollutants would be discharged into the atmosphere, assuming a straight-line demand curve? Quantity: tonnes b. Suppose government were to set a fee of $3,000 per pollution permit. How many tonnes of pollutants would now be dumped? What is the total revenue received by government? Quantity: tonnes Total revenue: $ c. Suppose that a new technology allows for a significant reduction in hydrocarbons at a relatively low cost so that the demand for pollution permits in the industrial park drops by 200 tonnes. Assuming that government holds the permit fee at $3,000, how many tonnes of pollutants would now be dumped? What would be the total revenue received by government? Quantity: tonnes Total revenue: $ d. After the change in demand in (c), what would happen if, instead of maintaining the fee of $3.000. government wants to maintain the same level of pollutants as in (b)? What fee would it have to charge, and what would be its new revenue? Fee: $ Total revenue: $
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