Are carbon prices working? Economists say that raising the cost of burning coal, oil, and gas is a cost-effective way to lower carbon emissions, but most countries that have tried this solution have not set prices high enough to bring large enough cuts. Source: New York Times, April 2, 2019 Does lowering carbon emissions have an opportunity cost? Lowering carbon emissions OA. does not have an opportunity cost; lowering carbon emissions is a rational choice and rational choices do not have an opportunity cost because OB. does not have an opportunity cost; government initiatives are free OC. has an opportunity cost the resources used to lower carbon emissions could be used for something else OD. has an opportunity cost the marginal benefit of lowering carbon emissions is much greater than its marginal cost OE. does not have an opportunity cost lowering carbon emissions is a novernment response to an incentive

Are carbon prices working? Economists say that raising the cost of burning coal, oil, and gas is a cost-effective way to lower carbon emissions, but most countries that have tried this solution have not set prices high enough to bring large enough cuts. Source: New York Times, April 2, 2019 Does lowering carbon emissions have an opportunity cost? Lowering carbon emissions OA. does not have an opportunity cost; lowering carbon emissions is a rational choice and rational choices do not have an opportunity cost because OB. does not have an opportunity cost; government initiatives are free OC. has an opportunity cost the resources used to lower carbon emissions could be used for something else OD. has an opportunity cost the marginal benefit of lowering carbon emissions is much greater than its marginal cost OE. does not have an opportunity cost lowering carbon emissions is a novernment response to an incentive

EBK HEALTH ECONOMICS AND POLICY

7th Edition

ISBN:9781337668279

Author:Henderson

Publisher:Henderson

Chapter6: Population Health

Section: Chapter Questions

Problem 8QAP

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General questions Howshould the optimal price of carbon be set? Which alternative approaches are available and which factors determine the price of carbon?”
. Both Wisconsin and Illinois border Lake Michigan. The lake is becoming polluted and both states are deciding whether or not to clean it. If Wisconsin decides to clean the lake it will cost 1200 and generate social benefits of 1500 – however, Wisconsin will receive only 1100 of those social benefits while neighbor Illinois will receive the other 400. If Illinois cleans the lake, it will cost them 700 and generate social benefits of 900 – however, Illinois will receive only 600 of those benefits, Wisconsin will receive the remaining 300. If a state does not clean the lake, it experiences a cost of $0. If both states clean the lake, the payoffs will be A. Wisconsin gains 100, Illinois gains 200B. Wisconsin gains 200, Illinois gains 300C. Wisconsin gains 200, Illinois loses 100D. Wisconsin gains 100, Illinois loses 100
What is an example of a problem in the world today, not mentioned in the chapter, that has an economic dimension?
A5 Climate change requires a large reduction of greenhouse gases (GHG) in the atmosphere. Use the concept of public good to briefly explain why, despite a lot of talk about it, little is actually being done to achieve sufficient GHG reduction.
Use this table to answer the next question. Anne and Charity are both engineers who can create roads or tunnels each year. The roads and tunnels they create are of equal, standard quality. The following table describes their maximum outputs per year. Roads Tunnels 10 2 Anne 4 Charity 8 What could Anne build with the time and other resources it takes her to build one tunnel? 1/2 road 5 tunnels 2/5 road 1/5 tunnel. 2 roads
1- Suppose, a polluting firm initially discharges 80tons of CO2 emissions into a fishery firm. Without liability law in place, it causes a total damage of say, $22,000 to the fishery. With liability law, it undertakes a scheme to reduce emissions from 80 tons to 50 tons where MAC=MD. But the scheme costs the polluting firm $ 4500. How much the polluting firm can save from the total damage now? Show with graph.
Read the excerpt. "The Maryland Department of Natural Resources has rescheduled public hearings on whether to allow companies to build wind turbines In state forests in Westem Maryland." -Baltimore Sun, January 2008 The situation described in the news article illustrates a possible conflict between finding alternative sources of energy and A protecting the environment. B funding national defense. C enhancing the quality of education. D promoting economic equity.
Suppose the following functions represent the marginal abatement cost (MAC) and marginal damage (MD) functions of an electricity generation plant emitting Sulphur Dioxide. MAC = 60 – 4E MD = 2E E represents the level of emissions, measured in tons per month. Currently, there is no emission control, and no abatement occurs.
Reler to the producton possbity frortier below tor a town that produces Ice creams and Jelly beans. The maximum amount of loe creame is 50o0 with no Jety besne, or 20,000 Jely beans with no loe creams CREAMS 20,000 Answer brietly these TWO questions in the box space provided below Part A Assuming efficient production, derive the maximum amount of Jelly beans that can be produced along with 300 loe creams * Show your steps. Part Determine if the production point is feasible and efficient Ice creams 250, Jely beans = 8.000. Show your steps
Why do some economists believe a carbon tax is a better policy?
Watch Dan Miller’s TED talk, A Simple and Smart Way to Fix Climate Change, and address the following questions. (a) What is the economic root of the climate change problem, that is, why do people (firms, consumers, etc) engage in activities which imply a cost to the environment that exceeds the economic benefit? (b) How does Miller’s proposal relate to the concept, presented in class, of Pigouvian taxation? (c) How does Miller’s proposal relate to the concept of repeated interaction (i.e., repeated games)? (d) What are the main constraints stopping proposals like Miller’s from being implemented?
22. Both Wisconsin and Illinois border Lake Michigan. The lake is becoming polluted and both states are deciding whether or not to clean it. If Wisconsin decides to clean the fake it will cost 1200 and generate social benefits of 1500 however, Wisconsin will receive only 1100 of those social benefits while neighbor Illinois will receive the other 400. If Illinois cleans the lake, it will cost them 700 and generate social benefits of 900 â€" however, Illinois will receive only 600 of those benefits, Wisconsin will receive the remaining 300. If a state does not clean the lake, it experiences a cost of $0. If Wisconsin does not clean the lake and Michigan does then the payoffs will be