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- how can an entrrepreneur aid in the creation of jobs in a countryMicroeconomic theory argues that it is economically rationale (and profitable) to sell additional output as long as the price covers the variable costs of production. How is this relevant to the determination of whether dumping has occurred?What is an externality?
- Many economists favor a carbon tax as a way to discourage carbon emissions. Suppose such a tax were to be set at $20 per metric ton of carbon emissions (1 metric ton = 1,000 kilograms). Consider a 35% efficient coal-fired powerplant that produces 50MW of electricity. Given the carbon intensity of coal is 24gC/MJ, answer the following: a) What would the annual carbon tax be for this powerplant? Answer: $2.16 million/year b) A tree farm sequesters carbon at the rate of 5,000kg per year per acre over the 40-year life of the farm. What area of forest (in acres) would have to be planted to “offset” the powerplant’s emissions over the next 40 years (roughly the lifetime of the powerplant)? Answer: 21,600 acres c) How much could the powerplant operators pay for the forestry project (in $/acre-year) and still have it be cheaper than paying the $20 per metric ton carbon tax? Answer: $100/acre-yearWhat is the main problem of overpopulation in relation to the environment?Discuss the main problem of agriculture sector in Pakistan? (b) Suggest suitable steps to remove these impending factors?
- Paper and pulp are the fastest-growing sector of the wood products market, as emerging economies of China and India catch up with the growing consumption rates of North America, Europe, and Japan. What should be done to reduce paper use? \The problems with e.g."Acid rain" created by emissions of sulfur dioxide has been onemajor problem in Sweden, not least because emissions have occurred in other countries (eg England and Denmark) andthen transported here. Now assume that if one tonne of sulfur is emitted in England, it results in one (1) gram of sulfur deposition in Sweden. The corresponding deposit of one tonne of sulfur emissions in Denmark is assumed to be 3 grams. Suppose further that The socio-economic damage of one gram of sulfur deposit can be estimated at SEK 0.10.The marginal cost of reduce sulfur emissions in England is estimated at Z SEK per tonne, and in Denmark the equivalent is estimatedcost to 2Z SEK per tonne. Z indicates here the emission reduction in tonnes (eg in Denmark it would cost SEK 4 toreduce emissions by two tonnes). In other words, Z = 0 corresponds to the emission level where there is no reductionemissions occur. a) Suppose now that the European Union decides that Denmark and England…How can external effects change supply and demand in electricity generation (Please provide a drawing)