(2) A study indicates that spending money on pollution control is effective up to a point but eventually becomes wasteful. Suppose it is known that when x million dollars is spent on 100r controlling pollution, the percentage of pollution removed is given by P(x)= 0.03x² +9
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(ii) For what values of x is ()Px increasing?
(iii) For what values of x is ()Pxdecreasing?
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- If MBmi(s)=180-15s and MCown(s)=5s, how much pollution is emitted with no controls on pollution? What is the optimal amount of pollution (s*)? How much would the firm abate (A*)? If the government used a pollution tax to achieve s*, where would it set the tax? How much would this tax raise in revenues? What would be the total abatement cost?Both Wisconsin and Michigan 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 Michigan will receive the other 400. If Michigan cleans the lake, it will cost them 700 and generate social benefits of 900 – however, Michigan will receive only 600 of those benefits while 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 Question 9 options: A) Wisconsin gains 200, Michigan gains 100 B) Wisconsin gains 300, Michigan loses 100 C) Wisconsin gains 300, Michigan gains 100 D) Wisconsin gains 200, Michigan loses 100Over the past 40 years in the United States, the number of vehicles on the road has A) decreased but the number of vehicle miles has increased, and the pollution per car has increased. B) decreased, the number of vehicle miles has decreased, and the pollution per car has decreased. C) increased, the number of vehicle miles has increased, but the pollution per car has decreased D) increased, the number of vehicle miles has increased, and the pollution per car has increased.
- Suppose we are interested in reducing the carbon footprint associated with heating/cooling buildings oncampus. The functions below describe marginal costs ofCO2abatement (expressed as a function of pollution)for two buildings on the Hendrix College campus. These are hypothetical but are influenced by buildingcharacteristics like age, size, and types of usage. (This information is used for questions 1-4) MCMills = 100−10xM MCSLTC = 75−2.5xS 1. If the College pursued its abatement target by directing each building manager to cut emissions in halffor their respective building, what is the total cost of abatement? 2. If the abatement were pursued with an on-campus carbon tax of$30, would there be the same level ofabatement? Show your work and/or explain. 3. If the goal of the college is to meet the abatement target from question 1, what is the appropriate taxrate? 4. If the appropriate tax rate is used (answer from Q3), how much money can be saved compared to thecommand & control…Suppose there are two polluters in the same region. The government decides that total market abatement of pollution (AMKT) should be set at 46 units/year, which would significantly reduce pollution. The polluters' marginal abatement costs (MAC) and total abatement costs (TAC) are: Polluter 1: MAC, = 2.3*A, and TAC, = 1.15*(A,)? Polluter 2: MAC2 = 0.6*Az and TAC2 = 0.3"(A2)? To reach the target of 46 units/year, the government has to decide whether to use a Pigouvian tax or a uniform standard. How much would be saved in abatement costs if a Pigouvian tax were used instead of a uniform standard? Answer:If it costs $6 to purchase & plant a tree, what is the socially optimal number of trees to be purchased? answer: [x] trees
- A local college is deciding whether to conduct a campus beautification initiative that would involve various projects, such as planting trees and remodeling buildings, to make the campus more aesthetically pleasing. For the students of the college, the visual appearance of the campus isnonrival andnonexcludable . Thus, the visual appearance would be classified as a public good. Suppose the college administrators estimate that the beautification initiative will cost $61,110. To decide whether the initiative should be undertaken, administrators conduct a survey of the college's 2,240 students, asking each of them their willingness to pay for the beautification project. The average willingness to pay, as revealed by the survey, is $20. The benefit of the beautification initiative, as suggested by the survey, is . Because the estimated benefit is than the cost, the college administrators undertake the beautification initiative. The calculation of the benefit of…Let's suppose a particular water pollutant causes K50 of damage per ton. Two sources emit the pollutant and each is currently generating 100 tons (total emissions = 200 tons). Source 1 is known to be able to reduce its emissions at a marginal cost given by MC1 = 1*Q1. Source 2's abatement costs are not certain. One possibility is that MC2 = 2*Q2 but it's also possible that MC2 5*Q2. It cannot be determined in advance which of the MC2 curves is correct. If it were certain that source 2 had the first marginal cost curve (MC2 = 2*Q2), calculate each of the following: W 1. the efficient total amount of abatement; 2. the amount of abatement that should be done by each source; 3. the emissions tax that would get to efficiency; 4. the quantity of permits that would achieve efficiency; and 5. the market-clearing price of a permit if a permit policy were used.Draw a diagram of the marginal abatement cost curve described by: MAC = 100 - 2E. What is the uncontrolled level of emissions? What is the marginal abatement cost of the 40thunit of abatement? What is the total abatement cost of 40 units of abatement?
- Find Pure Strategy Nash equilibirum then use following values for emissions.The impact of some pollutants results from their accumulating stock. Suppose a government policy limits emissions of such a pollutant to a constant 125 units per year. Further suppose these emissions dissipate at a rate of 3 percent per year. What will be the maximum stock of emissions that will accumulate over time? If this level of emissions continued forever, the stock will eventually reach integer.) units. (Enter your response rounded to the nearestSupply and Demand: End of Chapter Problems 9. Adjust each graph to show the indicated change. In each graph, click on the line or its midpoint to see the options. a. An increase in quantity demanded b. A decrease in demand Quantity Question Source: Chiang 4e- Economics Princidles FoHA Changing World Publisher: Worth 11:06 PI 65°F 10/13/20 Price