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- 4. The advantages of command-and-control environmental regulations used in the 1970's include: a. the provision of incentives to go beyond prescribed limits b. great flexibility in how and where to make pollution reductions c. proven success in reducing levels of pollution d. all of the above 6. With regard to international environmental issues, the Openstax text argues that: a. high income countries should use their superior economic position to force low income countries to reduce pollution b. climate change is too important of an issue to leave it to a market-oriented approach for a solution c. the practical details of an international solution are forbiddingly complex d. all of the above 7. According to the Openstax text: a. Increased environmental protection reduces economic output b. Environmental protection measures usually enhance economic output c. Increased environmental protection only reduces economic output in poorer countries d. Environmental protection measures only…What is the externality in the market for alcohol? Draw a market diagram for alcoholic beverages, including private and social cost curves and private and social value curves. Identify the market equilibrium quantity, the socially optimal quantity, and thedeadweight loss associated with the externality. What policies do governments use to try to eliminate the externality associated with drinking DRAW PICTURE PLUS STEP BY STEP HOW TO DRAW IT Draw a market diagram for alcoholic beverages, including private and social cost curves and private and social value curves Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Only typed answer You are an industry analyst that specializes in an industry where the market inverse demand is P = 100 - 3Q. The external marginal cost of producing the product is MCExternal = 6Q, and the internal cost is MCInternal = 14Q. Instruction: Round your answers to the nearest two decimal places. a. What is the socially efficient level of output? units b. Given these costs and market demand, how much output would a competitive industry produce? units c. Given these costs and market demand, how much output would a monopolist produce? units d. Which of the following are actions the government could take to induce firms in this industry to produce the socially efficient level of output. Instructions: You may select more than one answer. Click the box with a check mark for the correct answers and click twice to empty the box for the wrong answers. You must click to select or deselect each option in order to receive full credit. Pollution taxes…
- The government auctions off 500 units of pollution rights. They sell for 50 dollars per unit, raising total revenue of 25,000 dollars. The policy is equivalent to a corrective tax of _____ per unit of pollution 1. 10 dollars 2. 50 dollars 3. 450 dollars 4. 500 dollarsWhat is the expected economic impact of implementing strict environmental regulations on heavily polluting industries? A. It leads to increased short-term profitability for these industries. B. It generally causes operational costs to rise, potentially leading to higher prices for consumers. C. It significantly boosts employment in all sectors of the economy. D. It has no impact on the market behavior of affected industries.Why do economists prefer corrective taxes and tradeable permits over command and control policies as a way to protect the environment from pollution? Explain
- Large taxes on energy companies whose production activities cause environmental damage. How does this negative externality affect the allocation of resources? List three things. Include pigovian taxes and marginal costs.Below is the hypothetical supply and demand diagram for iron supplements in Brazil with positive externalities. 1. Move Ej to the market's equilibrium. 2. Move E2 to the socially optimal equilibrium. Market for Iron Supplements 5.0 E 1 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 D social D internal 0.5 0.0 100 200 300 400 500 600 700 800 900 1,000 Quantity (thousands) Price ($)Which of the following statements about pollution taxes, cap and trade, or command-and-control standards is FALSE? a.) Pollution taxes strictly control the amount of pollution but leave marginal abatement costs to be determined by the market. Cap-and-trade programs strictly control marginal abatement costs but leave the actual amount of pollution to be determined by the overall level of economic activity. b.) Pollution taxes are unpopular in the U.S. because American companies tend to dislike taxes in general. However, pollution taxes offer firms some greater certainty about how large will be their marginal cost of abatement on the last unit of abatement they will need to do, if they are to minimize the costs they incur both for cleanup and for pollution taxes. c.) Both command-and-control pollution standards, and cap-and-trade programs, can effectively limit the total amount of pollution, but command and control will be least-cost only by accident. Usually,…
- Cap and Trade policies are among the best environmental policies being used. However, it can be argued that they allow inefficient, high polluting sources to continue polluting. Is there a better way? What changes if any, would you make if you were the head of the EPA (Environment Protection Agency).Explain why, in the absence of governmental environmental regulation, competitive markets overproduce goods whose production involves the creation of negative externalities. Provide an example of a good that generates a negative externality.What is the definition of an externality? Click or tap a choice to answer the question. a cost or benefit of market activity to an outside party influence on market activity by an outside party any cost associated with a market activity any benefit associated with a market activit