Chapter 17, Problem 13PAE

Give typing answer with explanation and conclusion  One advantage of an emissions tax over a cap-and-trade system is that   a. permit markets can have transactions costs that taxes do not.   b. taxes put a price on pollution, but cap-and-trade systems do not.   c. once a cap-and-trade system is in place, there is no way for the government to adjust the price of permits.   d. taxes are always popular.

Concepts illustrated in the Tragedy of Commons that we need to recognize include undersanding natural sysems and how they operate. being aware of how the reality of human nature can impact resources . considering how the Tragedy of the Commons connects with the oncept of sustainability . BOTH being aware of how the reality of human nature can impact resources AND considering how the Tragedy of the Commons connects with the concept of susainability all of the above. The name of the class is introduction to sustainability.

A large supermarket applied to build on land which was in an area of natural beauty. The local government allowed the building, even though the natural beauty of the area would be lost, because many jobs would be created and much needed income would be brought to the local community. Which economic ideas cannot be found in the above statement? A external cost and private enterprise B free market and the conservation of resources C opportunity cost and improved standards of living D public sector and external benefit

Suppose a city releases 16 million gallons of raw sewage into a nearby lake. Table shows the total costs of cleaning up the sewage to different levels, together with the total benefits of doing so. (Benefits include environmental, recreational, health, and industrial benefits.). a. Using the information in Table, calculate the marginal costs and marginal benefits of reducing sewage emissions for this city. See Production, Costs and Industry Structure if you need a refresher on how to calculate marginal costs. b. What is the optimal level of sewage for this city? c. Why not just pass a law that firms can emit zero sewage? After all, the total benefits of zero emissions exceed the total costs.

Some economists claim that grinding poverty and impatience impel people to strive for immediate gain, forgetting long-term environmental sustainability. You are an Environmental Economist in the Ministry of the Environment and Beautification in your local country, and you are tasked with holding a team meeting and the Chief Economist has given the following guidelines:   II. two critiques (most recent) of the environmental Kuznets Curve. III. the importance of inter-generational equity and optimal depletion with regards to non-renewable resources.

Just answer true or false 1. Mining has negative externalities 2. The social cost of putting up a dam is reduced if the government ensures that the communities adversely affected are relocated in another area with sustainable sources of livelihood 3. Fireworks display during Christmas sponsored by an agency has both positive and negative externalities. 4. When a public space has been enclosed for a concert and people can only get in by buying tickets, the public space is no longer a public good that is non-rival and non-exclusive.

Suppose there are 2 petrochemical companies that cause water pollution in the surrounding environment with marginal costs MC1 = 150e1 and MC2 = 50e2 (where e1 and e2 are the amount of waste in m3 reduced by company 1 and company 2). Initially, company 1 disposed of 50 m3 of waste and company 2 disposed of 40 m3 of waste. a. If the government wants to ensure the total waste is reduced by 20 m3 with a cost-effective approach, how much waste must each company reduce?

Classify the following pollution-control policies as command-and-control or market incentive based. a. A state emissions tax on the quantity of carbon emitted by each firm. b. The federal government requires domestic auto companies to improve car emissions by 2020. c. The EPA sets national standards for water quality. d. A city sells permits to firms that allow them to emit a specified quantity of pollution. e. The federal government pays fishermen to preserve salmon.

1a) Water filtration removes contaminants that increase the risk of plant diseases from a farmer's water sources. As a result, there is a decreased risk of consumers suffering illnesses from consuming crops grown with filtered water. Due to this, economists might suggest that the use of water filtration systems in agriculture has an associated ________ externality? 1b) Draw the private cost, private benefit, social cost, and social benefit curves in the market for water filtration systems. If any of the curves are the same, label the curve as both. 1c) Is there market failure if the market runs freely? If so, is the socially optimal quantity of farmers using water filtration systems higher or lower than the market outcome? 1d) Provide a policy suggestion that would help to correct any market failures that arise due to this externality. Explain why this would be effective.   2a) Livestock and poultry farming are some of the largest contributors of ammonia emissions. Ammonia has been…