Econ 491 591– Assignment 1

CH9: which of the following statements are true about ecological footprint? The Earth has about 4.2 acres of sustainable productive land area per person, but humans consume 7.1 acres worth of resources. Since the 1970s, our economic growth has supported our increasing planetary population with unsustainable methods. Both A and B ONeither A nor B

Rewrite this text;   The Ultra Low Emission Zone (ULEZ) is a policy implemented in certain areas to reduce air pollution by charging vehicles that do not meet specific emission standards. To provide a summary of the main changes brought in by ULEZ, I will refer to the information from the BBC News article and the research briefing from the UK Parliament's Commons Library.According to the BBC News article, the ULEZ policy was introduced in London in April 2019 and expanded in October 2021. The main change brought by ULEZ is the requirement for vehicles entering the zone to meet strict emission standards. Petrol vehicles must meet Euro 4 standards, while diesel vehicles must meet Euro 6 standards. Non-compliant vehicles are subject to a daily charge. The ULEZ policy aims to improve air quality and reduce harmful emissions, particularly nitrogen dioxide and particulate matter.One potential benefit expected to arise from the introduction of ULEZ is the improvement in air quality. The…

A city currently emits 16 million gallons (MG) of raw sewage into a lake that is beside the city. The table below shows the total costs (TC) in thousands of dollars of cleaning up the sewage to different levels, together with the total benefits (TB) of doing so. Benefits include environmental, recreational, health, and industrial benefits. Emissions Total Cost Marginal Cost Total Benefit Marginal Benefit 16 MG Current N/A Current N/A 12 MG 50   800   8 MG 150   1300   4 MG 500   1650   0 MG 1200   1950   Complete the table. What is the optimal level of sewage for this city? How can you tell?

With Diagram, show how external effects can change supply and demand in electricity generation.

1. Provide three reasons why it is important for environmental economists to adhere to a code of ethics, whether the code of ethics is formal (documented and sanctioned by an established group) or informal (simply a matter of thinking about what is right, possible spillover effects, and what advice would be appropriate)           2. Explain how environmental justice is related to decisions that governments make about how we use and/or protect environmental resources.

34. what are some proms and cons of being an environmental economist?

"Examine the economic impacts of implementing a carbon tax as a policy measure to combat climate change. Discuss how a carbon tax might influence consumer behavior, energy production, and technological innovation. Additionally, evaluate the potential effects on global trade patterns and the distribution of income. between different socioeconomic groups within a country."

This system provides materials needed for goods and services, and serves as a sink for our wastes:   a - manufacturing system b - health care system c - transportation system d - ecological system e - economic system

In most economic sectors waste is oversupplied. Explain why this is the case and critically discuss the use of economic principles to move the supply of waste to a more sustainable and efficient level.

Overview: The US government is reviewing the topic of a cap-and-trade system for carbon emissions, and the Secretary of State (the Secretary) has been asked to weigh in on whether they should support the system or not. The Secretary has asked you to write a recommendation memo on the subject, recommending what side of the argument they should land. Instructions: • Familiarize yourself with what a cap-and-trade emission system is. • Research and locate data points on the subject that will help form your argument. This data point can be environmental, political, and/ or business-centric. • Create a recommendation memo using the assignment template with a recommendation of if the Secretary should be for or

Problems Section 1. Marginal Abatement Cost Curves There are two coal plants that generate electricity, firm 1 and firm 2 that emit 100 and 200 tons of CO2 each year respectively when the price of pollution is zero (i.e., in the absence of any regulation). You are the head of the EPA, and after consulting with some environmental economists, you decide that the socially optimal amount of abatement in the electricity industry is a 100 tons of CO2. The marginal abatement cost curves are given by the following, where Qjand Q, are the amount of firm 1 and 2's abatement: MAC1 = 10+ (1/2)Q1 MAC2 = Q2 horizontal axis) %3D [hint: recall that in a MAC diagram, Q2 increases as you move to the left on the a. Historically, the EPA has used "command-and-control" methods of reducing pollution. One of your staff members, Mike, says that it is efficient for both firms to each reduce their pollution by 50 tons. Determine if you agree or disagree with Mike, and explain your intuition. b. In a cap and…

(microeconomics course) As the extent of environmental protection expands, would you expect marginal costs of environmental protection to rise or fall? Why or why not?

Why might a wetland ecologist scoff at an economist when the economist claims to have come up with a "value" for wetlands, for use in benefit-cost analysis? Keep in mind that economists and ecologists tend to have very different ideas about the concept of “value” for environmental resources?  Explain the differences between the concept of “existence value” for an economist, and the concept of “intrinsic value” for an ecologist.

Q)What are economists most concerned with when determining the desirability of pollution abatement programs?   a. the expected future costs associated with rising ocean levels     b. the future savings to the health-care system from fewer environmental illnesses     c. equating the marginal cost and marginal benefit of pollution abatement     d. the level of greenhouse gas emissions from automobiles

QUESTION 10 Which of the following types of firms are likely to respond to a corrective tax by reducing their pollution emissions? a. Firms with high abatement costs b. Firms that love the environment c. Firms that want a boost to their public image d. Firms with low abatement costs

Suppose the marginal cost (MC) and marginal benefit (MB) of reducing nitrogen oxide air pollution are illustrated in the figure. Suppose initially 3 million tons of nitrogen oxides are being reduced. What is the net benefit to society of increasing the elimination of nitrogen oxide air pollution to 6 million tons? The net benefit is $ million. (Enter your response rounded to one decimal place.) Cost or benefit ($ per ton) 500- 450 400- 350- 300- 250- 200- 150- 100- 50- 0- 0 1 MC 2 3 4 5 6 7 8 Reduction (millions of tons per year) MB 9 10

5) Suppose that an international agreement requires exporters to reduce their carbon emissions. In this context, government subsidies are provided to R&Ds that will enable green-friendly production in exporting industries that produce high-tech.a) Explain what might be the reasons for the implementation of such an activist policy.(Answer this question with the arguments of your main course book, (Krugman; Obstfeld; Melitz; 2015))b) Describe how the Environmental Kuznet curve works. Let's assume that there is a green-friendly technology transfer from developed countries to less developed countries in order to achieve the goal of a decrease in emission, then what will happen to the curve?

Discuss the sources and approaches used by McDonald’s in order to stay abreast of the environmental changes

Give typing answer with explanation and conclusion Why the market tends to fail when dealing with environmental issues? It is said many externalities in environmental economics have features that are similar to that of public goods. We know that the provision of some public goods such as lighthouse can be solved through the market rather effectively. What makes environmental goods such as clean air different from other public goods such as lighthouse? Why is it more difficult to solve the provision of clear air through the market?

Environmental Economics. The equations below describe the marginal costs of abatement for three separate sources (as a function of pollution). %3D МC2 3D 24 - 2е2 МС3 %3 10 - е3/2 (Constructing a graphical presentation of the different cost functions may help) 1. What is the total cost of abatement if each source is forced to cut its pollution by half? 2. What are the cost-savings of an emissions price that achieves the same reduction as the command and control policy described in question 2?

1) Identify a concept on your own from Douglas North and explain it in your own words. You need to CLEARLY identify the source (i.e. name of the book and page, or link of the video and time, or name and link of the website). (one paragraph) 2) How would you use this concept to explain an observation in your life, a historical event, a cultural norm or institution, a local/international problem, create a solution to an environmental issue, or to create a business opportunity? (one paragraph)

4. Question 4: How would you find the added abatement costs for Country A to consider damages it causes in Country B and produce at the globally efficient level of emissions? 5. Question 5: How could you assess the total reduction in damages when Country A considers damages it causes in Country B and produces at the globally efficient level of emissions? 6. Question 6: What is the total reduction in damages accruing directly to Country A when it considers the damages it causes in Country B and produces at the globally efficient level of emissions?