The State of Y submits a plan under the Clean Air Act to attain national ambient air quality standards. Can the Environmental Protection Agency administrator deny approval of the State plan because it is (a) less stringent or (b) more stringent than the agency believes is feasible? Explain.

Q: A polluting firm has Marginal Abatement Costs as graphed below and is faced with an emissions tax =…

A: In this question we are given with a graph depicting marginal abatement costs of a polluting firm…

Q: About five decades ago, when The Environment Protection Agency was created about, it decided to…

A: Decades ago, the establishment of the Environmental Protection Agency (EPA) marked a pivotal moment…

Q: Does it seem reasonable for NEPA to require that an economic impact analysis be left out of the…

A: NEPA stands for the National Environmental Policy Act. It is a United States environmental law…

Q: Please identify two significant air-quality problems and two significant water quality problems in…

A: Today, pollution levels in many areas of the us exceed national air quality standards for a minimum…

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: Compared with a standard, both tradable discharge permits and emission taxes a tend to be preferred…

A: The government has to look after all the possible problems and issues which are a cause of the…

Q: Why would some amount of an exhaustible resource remain untapped forever. Explain the effect of the…

A: Exhaustible resources are non-renewable resources that cannot be replenished once depleted. Many…

Q: Despite the logic of the Coase theorem, private actors often fail to resolve the problems caused by…

A: Externalities refer to the cost or benefit of an economic transaction incurred on a third party who…

Q: The government auctions off 600 units of pollution rights. The rights sell for $50 per unit, raising…

A: Corrective tax can be calculated by using the following formula.

Q: Explain how marketable emission credits add to overall economic efficiency, compared to…

A: The marketable emission is the measurement that is used to evaluate the level of reduced pollution…

Q: The demand for energy-efficient TV is P = 100/Q, while the supply (marginal private cost) is MPC =…

A: Market equilibrium in economics is a state where the quantity demanded of a good or service equals…

Q: Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey…

A: Industrial economics is the study and appraisal of business financial issues utilizing abstract…

Q: The figure above shows a national marketable permit system for carbon dioxide. Which of the…

A: The permit price is determined by the supply of permits and demand for permits. The equilibrium…

Q: Which of the following is a command and control environmental policy? subsidizing the purchase of…

A: The policy manages human activities to prevent, and reduce harmful effects of nature and natural…

Q: What are economists most concerned with when determining the desirability of pollution abatement…

A:

Q: Combating emissions that lead to global warming differs from other types of pollution abatement…

A: The global warming is a worldwide concern. These occurs due to various emissions that leads to…

Q: The European Union Emissions Trading Scheme (EU-ETS) is the world's largest pollution market.…

A: The world’s largest multinational program of cap-and-trade for limiting global warming pollution has…

Q: The following companies all manufacture widgets and dump tons of glop into the air. Costs to clean…

A: The government sets a total pollution cap of 100 tons of glop. This means that the total amount of…

Q: The revenues from an emissions-charge approach to controlling climate change would be unusually…

A: Revenue: The term revenue explains the money generated or earned by an individual. To make money,…

Q: Is zero pollution possible under a marketable permits system? Why or why not?

A: Externality refers to the situation in which the act of production or consumption affects the third…

Q: Describe the key symmetry between a pollution emissions tax and an emissions trading scheme. Outline…

A: Both a pollution emissions tax and an emissions trading scheme are market-based approaches aimed at…

Q: The government auctions off 500 units of pollution rights. They sell for 50 dollars per unit,…

A: A corrective tax is a tax which is designed to induce the private decision makers to take the…

Q: Given the same marginal damage and same marginal abatement cost curve, the socially efficient…

A: A socially efficient pollution control policy causes an economy to move towards the point where…

Q: Why is emission mitigation is considered as a public good?

A: Emission mitigation is considered as a public good.

Q: Firm A currently dumps 243 tons of chemicals into the local river. Firm B currently dumps 126 tons…

A: Pollution permits refer to the rights that are legally given to polluting to a certain amount.…

Q: Which of the following statements about pollution taxes, cap and trade, or command-and-control…

A: Pollution Tax is the type of taxation that charges polluters for the damages that their actions have…

Q: Explain the concept of public goods in terms of environmental economics.

A: Public goods are those goods which are freely available on the market and whose use does not affect…

Q: By what means can the procurement Act of Ghana contribute to economic, environmental and…

A: The Procurement Cycle begins with the identification of a need and ends with the award of a…

Q: Summarize the effects of the Clean Air Act on U.S. air pollution.

A: CAA involves emissions trading, valuation and cost-effective strategies which are economic…

Q: Which of the following is not an objective of the National Ambient Air Quality Standards (NAAQS)…

A: The answer is fourth point. That is, Areas that did not meet the standards were designated…