t are the costs of pollution according to the Lancet Commission on pollution and health? Why are those numbers likely to be an underestimate? Explain
Q: hould the goal be to eliminate all pollution? How do firms deal with externalities such as pollution…
A: Externalities refer to the costs or benefits that are experienced by individuals or entities who are…
Q: Which of the following countries is NOT one of the biggest polluters worldwide? Group of answer…
A: The emission of pollution is calculated by the world meteorological organisation(WMO) i case of…
Q: What makes water pollution relevant to the researchers?
A: Answer - Water Pollution - It is the contamination of water environment or water body due to direct…
Q: Would environmentalists favor command-and-control policies as a way to reduce pollution? Why or why…
A: The command-and-control regulation establishes particular pollution emission limitations and/or…
Q: If society wishes to reduce pollution, why is it more efficient to tax the pollution rather than set…
A: Note- Since you have posted multiple independent questions in the same request, we will solve the…
Q: What causes market failure when there is marine pollution.
A: Market failure takes place when the allocation of services and items by a free market is…
Q: Explain why zero pollution should not be the goal for a society.
A: The term "zero pollution" implied a low quantity of poisons and trash delivered by businesses, to…
Q: For each policy listed, identify whether it is a command-and-control policy (regulation), tradable…
A: The policy is the set of principles that guides the decisions and leads to achieving rational…
Q: What is the main rationale behind marketable pollution permits?
A: Emissions trading or cap and trade is a market-based approach that is used by government to control…
Q: what are the corrective taxes? why do economists prefer them to regulate as a way to protect the…
A: Corrective tax is the tax which is enacted for reducing the negative externality. The production of…
Q: Why is it more efficient to tax pollution than to tax the output that produces pollution? Show a…
A: Negative externality: Negative externalities happen when the item and utilization of a decent or…
Q: Pollution is a negative externality. Why is it that the social optimum in a market that generates…
A: Externality: - it is a cost or benefit generated for the third party by the actions of other people.
Q: What are pollution havens? How are they created or why do they exist? Why do economists think they…
A: According to the Pollution Haven Hypothesis, businesses will want to avoid the costs of strict…
Q: How would an economist answer the question: "What is the socially best amount of pollution control?"…
A: The socially best amount of pollution control will be at the point or amount where the net benefits…
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: In what ways is pollution still a problem?
A: Environmental economics studies the distribution of the world's natural resources for efficient use…
Q: True or false and use a graph to explain: when the costs of pollution abatement are uncertain,…
A: A corrective tax, also termed to be a Pigovian tax fixes the pollution price and on the other hand…
Q: A city currently emits 16 million gallons (MG) of raw sewage into a lake that is beside the city.…
A: MC(marginal cost) and MB(marginal benefit) are calculated as: MC=change in TCchange in…
Q: if the production of cars produces damaging pollution, we would expect the unregulated market to?
A: Market failure is defined as a situation under which an inefficient distribution of goods takes…
Q: Chapter 8 in Tietenberg and Lewis looks at climate change, the most important environmental issue of…
A: Carbon Pricing is defined as setting a price on carbon emissions by implementing a tax on the…
Q: How do economists determine the optimal amount of pollution control?
A: In economics, marginal benefit and marginal cost are two important concepts, which determine the…
Q: True or false and use a graph to explain: the socially optimal level of pollution is zero.
A: By matching the marginal cost of new pollution with the marginal benefit, the amount of pollution…
Q: Why is something like clean air so difficult for the market to regulate effectively? Explain your…
A: Clean air will fall under the category of public good which is non-excludable and non-rival, which…
Q: Pick any amount of emission which is greater or less than E*=10 (also it must be less than Emax).…
A: Social efficiency in the framework of pollution control refers to the degree of emissions reduction…
Q: First, is it possible to have zero pollution? Next, even if it is possible, would we want to achieve…
A: The pollution of the environment is considered a serious issue and is important damage to the…
Q: Briefly explain the relevance of the first theorem of welfare economics in the field of…
A: The First Theorem of Welfare Economics asserts that under certain conditions, a competitive market…
Q: Why has supply and demand failed to prevent pollution
A: Supply: It refers to the goods and services available in the market for the people's purchase. The…
Q: Show why we normally won’t want to pay what it would cost to eliminate every last bit of a negative…
A: Negative Externality: It is the cost that is incurred or suffered by the third person who is not…
Q: There are 59 employees. The impact of pollution in employees is $759447 and the value of a…
A: Given: The impact of pollution on employees is $759447 statistical life is $8mn
Q: When studying pollution and the environment, economists O A) emphasize costs and benefits. B)…
A: Pollution is treated as a negative externality in economics. Negative externality means that it is a…
Q: The accompanying graph depicts the marginal social cost (MSC) and marginal social benefit (MSB) of…
A: Negative externalities, such as pollution emissions, represent the unintended and often harmful side…
Q: What is an environmental pollution
A: Environmental pollution is defined as "the contamination of the physical and biological components…
Q: This graph shows the market for antifreeze. Use it to answer the next questions. 9. 8 6. 3. 0. 100…
A: Negative Externality refers spill-over cost of a good on third party which is not involved in either…
Q: There is a saying that a person worried about the source of his next meal is not much concerned…
A: The statement is a reflection that essential needs of our daily life, e.g. hunger, become our…
Q: What happens in the market for a good that pollutes the air when it is manufactured if government…
A: A negative externality / external cost is a type of spillover which imposes a cost on the third…
What are the costs of pollution according to the Lancet Commission on pollution and health? Why are those numbers likely to be an underestimate? Explain.
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- Economists Kenneth Chay and Michael Greenstone found that in the two years following the passage of the Clean Air Act of 1970, the sharp reduction in air pollution also led to a decline in infant deaths. Although this and other studies provide compelling evidence of the link between pollution and infant health, it is not clear that reductions from the much lower levels of ambient pollution today would have the same effect. Which of the following reasons could explain this? A. Today, the level of pollution is much higher. Therefore, it will take a much larger reduction in air pollution to reap benefits similar to those in 1970. B. When levels of pollution are high, the marginal benefit of reducing pollution also is high. It follows therefore that the benefit of reducing air pollution in 1970 would be much higher than the benefit from a proportional reduction in air pollution today when the level of pollution is much lower. C. When levels of pollution are…It’s common to think that reducing pollution is necessarily costly because to reduce pollution we need to tax firms who will then produce less. But can you think of one example in which pollution might not only be unpleasant but might actually reduce production?How do economists determine the optimal amount of pollution control?
- What are pollution havens? How are they created or why do they exist? Why do economists think they may change over time and develop policies to reduce pollution?In what ways is pollution still a problem?There are three identical firms in Happy Valley. Firms Initial Pollution Level Cost of Reducing Pollution by 1 unit A 30 units $20 B 40 units $30 C 20 units $10 The government wants to reduce total pollution to 60 units, so it gives each firm 20 tradable permits. Who sells permits and how many do they sell? Who buys permits and how many do they buy? Briefly explain why the sellers and buyers are each willing to do so? What is the total cost of pollution reduction in this situation? How much larger would the cost of pollution reduction be if the permits could not be traded?
- Economists define the efficient amount of fund pollutants as the amount that minimizes the sum of damage and control costs. Using this definition, they derive two general rules, one of which is that the efficient level of pollution is not generally zero. Briefly explain why this is true.Imagine the government of California has proposed a new tax on vehicles based on the amount of emissions they produce in a year. In 2019, there will be 20 tons of emissions produced. The governor’s office has run the calculations and found that the socially optimal level is 14 tons and the marginal damage from each unit of pollution is $150. Imagine there are two types of drivers in California: commuters and non-commuters. Imagine that the marginal cost of reducing pollution for commuters is MCA_C=150Q and the marginal cost of reducing pollution for non-commuters is MCA_N=30Q. Each type initially created ten tons of pollution each. Their total cost of reductions is equal to TCA_C=75Q^2 and TCA_N=15Q^2. How much would each type choose to reduce under the tax? Imagine the governor instead suggested forcing all drivers to reduce their emissions by 30% from their 2019 levels. How would the costs of reduction here compare to the taxation case (please provide actual numbers)? Do you…Use a graph to illustrate the quantity of pollution that would be emitted (a) after a corrective tax has been imposed and (b) after tradable pollution permits have been imposed. Could these two quantities ever be equivalent?
- Why has supply and demand failed to prevent pollution?What happens in the market for a good that pollutes the air when it is manufactured if government decides to tax consumers when the product is purchased? Will this reduce the amount of air pollution?Can you think of a reason why making cars safer would create negative externalities?
