Economics: Principles & Policy
14th Edition
ISBN: 9781337696326
Author: William J. Baumol; Alan S. Blinder; John L. Solow
Publisher: Cengage Learning
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Chapter 16, Problem 3TY
To determine
The amount of pollution emitted.
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True or false and use a graph to explain: when the costs of pollution abatement are uncertain, corrective taxation is always preferable to quantity regulations.
Give some instances of environmental issues that the Pigovian tax can be used to resolve.
The government has recently introduced a marketable permit program for major polluters where one permit gives permission to pollute one unit. When the program is introduced, Firm A emits 400 units of pollutant and so is granted 400 permits. After one year, firms are issued 25% fewer pollution permits. If Firm A reduces its pollutants from 400 units to 240 units, how many permits does it sell after one year?
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Economics: Principles & Policy
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- Explain the difference between positive and negative externalities along with an example.arrow_forwardDefine pollution charge and will our economy be able to control pollution? Share your thoughts in a paragraph.arrow_forwardExplain the concept of externalities; include an example, as well as how the government takes action to correct it.arrow_forward
- True or false and use a graph to explain: the socially optimal level of pollution is zero.arrow_forwardWhat externality problem do you expect in the market for plastic bags? How does the government correct the inefficiency of the market? Explain in detail with diagramarrow_forwardFirst, is it possible to have zero pollution? Next, even if it is possible, would we want to achieve zero pollution? Lastly, do you think there is too much pollution, and if so why?arrow_forward
- Distinguish carefully between a positive externality and a negative externality. Explain your answer with an example of each. (needs to be at least 100 words )arrow_forwardWhich of the following describes the effect of an optimal tax on pollution?Select one:a. a benevolent social planner is able to maximize productionb. producers choose not to produce any pollutionc. the value to consumers at market equilibrium exceeds the cost of production (including tax)d. producers internalize the cost of the pollutionarrow_forwardIf the government wants to reduce the burning of fossil fuels, it should impose a tax onarrow_forward
- Free market economies often promote pollution becausea. environmental costs are hardly ever recognized as part of the economy.b. supply never keeps up with demand, so industry must increase output to address the demand.c. the costs of energy and raw materials are so variable.d. laws about pollution are unenforceable.arrow_forwardMankiw Chapter 11 question 2 Are the externalities associated with public goods generally positive or negative? Use examples in your answer. Is the free market quantitiy of public goods generally greater or less than efficient quantity?arrow_forward
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