(Figure: Efficiency and Pollution in the Market for Vehicle Emissions) Use Figure: Efficiency and Pollution in the Market for Vehicle Emissions. Assume that firms are the only beneficiaries of pollution and that costs are borne solely by others in the society. The socially optimal quantity of pollution is ____ tons.
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- How can high-income countries benefit from covering much of the cost of reducing pollution created by low-income countries?(Figure: The Socially Optimal Quantity of Emissions from Coal Production) Use Figure The Socialy Optimal Quarety of Emissions from Coal Production in the figure, firms are the only beneficiaries of polution, and costs are borne solely by others in the society. Without government intervention Marginal social cost, marginal social benefit MSC of pollution MSB of pollution Quantity of pollution emissions (tons) O The outcome cannot be determined without more information Orms will continue to polute until the marginal benefit to them is $200 O firms will continue to pollute until the marginal benate to them is zero. O the quantity of pollution will be optimal.(Figure: The Quantity of Pollution in Coal Production) Use Figure: The Quantity of Pollution in Coal Production. Whe this economy produces 50 tons of emissions: MSB, MSC 200 150 100 50 MSB 200 Quantity of pollution emisions (tons) it is producing below the socially optimal level of output. the marginal social cost equals the marginal social benefit. it is producing at its socially optimal level of output. the marginal social cost is greater than the marginal social benefit. 0 50 MSC 100 150
- (Figure: The Socially Optimal Quantity of Pollution II) In the accompanying figure, without government intervention: Figure: The Socially Optimal Quantity of Pollution II Marginal social cost, marginal social benefit Marginal social cost, MŠC, of pollution Marginal social benefit, MSB, of pollution Quantity of pollution emissions (tons) OA. firms will continue to pollute until the marginal social benefit is zero. OB. firms will continue to pollute until the marginal social benefit is $200. OC. the optimal quantity of pollution will occur. OD. none of the above2.Is the collection of emissions fees economically efficient in terms of cost effectiveness? How do manufacturers determine the amount of pollution reduction?1.Explain specifictly how to overcome and solve the major problem of Mcdonal's company from polluting the water? 2. Explain specifictly how to stop the staff from throwing unethically waste inside the water? 3. Explain what the company will do if the staff still throwing unethically waste in the water?
- (Figure: The Quantity of Pollution in Coal Production) Use Figure: The Quantity of Pollution in Coal Production. The amount of a Pigouvian tax required to bring the market to the socially optimal level of pollution emissions is: MSB, MSC 200 150 100 50 100. 50. 150. 0. 0 50 100 MSC MSB 150 200 Quantity of pollution emisions (tons)(Figure: The Optimal Quantity of Pollution in the Market for Benzene Waste) Use Figure: The Optimal Quantity of Pollution in the Market for Benzene Waste. The figure shows the marginal social cost (MSC) and marginal social benefit (MSB) for firms that pollute the air with benzene fumes. Using the figure, the optimal Pigouvian tax per unit of pollution is: Marginal social | cost, marginal. social benefit $500 Powere O $500 O $250. O $167. O $83. 250 167 0 MSB 83 125 MSC Quantity of pollutionMAC of reducing SO2 emission Tons of SO2 Firm 1 Firm 2 Firm 3 1st 3 2 2nd 12 6 4 Зrd 18 9 6. 4th 24 12 8 5th 30 15 10 6th 36 18 12 The table shows the marginal abatement costs of reducing SO2 pollution. Each firm is emitting 6 tons of SO2 into the air currently. QUESTION 3 Suppose the government doesn't know each firm's costs of abatement. The socially efficient or least cost of reducing the pollution from 18 tons to 6 tons can be brought about by a per-unit SO2 tax of O 13 O 4 O 7 8
- Suppose a city releases 16 million gallons of raw sewage into a nearby lake. Table 12.8 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.) Using the information in Table 12.8, 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. What is the optimal level of sewage for this city? Why not just pass a law that films can emit zero sewage? After all, the total benefits of zero emissions exceed the total costs.Consider two approaches to reducing emissions of CO2 into the environment from manufacturing industries in the United States. In the first approach, the U.S. government makes it a policy to use only predetermined technologies. In the second approach, the U.S. government determines which technologies are cleaner and subsidizes their use. Of the two approaches, which is the command-and-control policy?In the Land of Purity, there is only one form of pollution, called gunk. Table 12.14 shows possible combinations of economic output and reduction of gunk, depending on what kinds of environmental regulations you choose. Sketch a graph of a production possibility frontier with environmental quality on the horizontal axis, measured by the percentage reduction of gunk, and with the quantity of economic output on the vertical axis. Which choices display productive efficiency? How can you tell? Which choices show allocative efficiency? How can you tell? In the choice between K and L, can you say which one is better and why? In the choice between K. and N, can you say which one is better, and why? If you had to guess, which choice would you think is move likely to represent a command-and-control environmental policy and which choice is more likely to represent a market-oriented environmental policy, choice L or M? Why?
