True or False If it costs $1 million to remove 90% of some pollutant from industrial wastewater, then removal of the next 9% might cost an additional million dollars. To get the water 99.9% clean might cost a total of $3 million, and so on.
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True or False
If it costs $1 million to remove 90% of some pollutant from industrial wastewater, then removal of the next 9% might cost an additional million dollars. To get the water 99.9% clean might cost a total of $3 million, and so on.
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- Firm A currently dumps 223 tons of chemicals into the local river. Firm B currently dumps 192 tons of chemicals into the local river. The government has decided to reduce the pollution and from now on will require a pollution permit for each ton of pollution dumped into the river. The government gives each firm 10 pollution permits. The abatement costs of one ton of pollution is $173 for Firm A and $76 for Firm B. What would be the total cost of reducing pollution, if the firms are allowed to trade permits between each other?Air pollution in the country of Gawanza has grown over the last ten years with an increase in manufacturing industries. The government of Gawanza now has a plan to reduce the CO2 emissions into the air by 10% per year over the next 10 years. What do you expect will happen? The marginal cost and marginal benefits to Gawanza of reducing CO2 will be lowest in the last few years of implementing this plan. The marginal cost and marginal benefits to Gawanza of reducing CO2 will be lowest in the last few years of implementing this plan. The marginal cost of reducing CO2 will be the highest and marginal benefits of reducing CO2 will be the lowest in year ten. The marginal cost of reducing CO2 will be the highest and marginal benefits of reducing CO2 will be the lowest in year ten. The marginal cost and marginal benefits to Gawanza of reducing CO2 will be highest in the last few years of implementing this plan. The marginal cost and marginal benefits to Gawanza of reducing…Cap and Trade policies are among the best environmental policies being used. However, it can be argued that they allow inefficient, high polluting sources to continue polluting. Is there a better way? What changes if any, would you make if you were the head of the EPA (Environment Protection Agency).
- assume you are an average american driver. using the 2014 emission totals, how many pounds of nox emission are you responsible for creating? how many pounds would you prevent if you were to reduce by half of the vehicle miles you travel? what percentage of your total nox emissions would that be?Apolluting firm dumps waste into the ocean during production. The loss in value due to damaging the fish stack is valued at $100,000 (you can think of this as lost profits for fishing firms). The firm could eliminate the pollution at a cost of $60,000 a year. Choose the statement that describes the expected efficient outcome if the polluting firm has property rights over the ocean. The firm continues to pollute The polluting firm pays the $60,000 to eliminate pollution The fishing firms pay the $60,000 to eliminate pollution The polluting firm and fishing firms share the $60,000 cost of eliminating pollutionFirm A currently dumps 243 tons of chemicals into the local river. Firm B currently dumps 126 tons of chemicals into the local river. The government has decided to reduce the pollution and from now on will require a pollution permit for each ton of pollution dumped into the river. The government gives Firm A 61 pollution permits and gives Firm B 65 pollution permits. The abatement costs of one ton of pollution is $113 for Firm A and $165 for Firm B. What would be the total cost of reducing pollution, if the government does NOT allow the firm to trade the permits between each other?
- The figure to the right shows the marginal cost of pollution abatement for two firms, A and B. The firms were initially abating 46 units of pollution each. Now they can trade pollution permits at a price of $22. As a result, firm A sells permits and firm B buys permits. Both firms are now better off and their total saving will be $ (Enter your answer rounded to the nearest whole number.) Dollars per Unit ($) 34 22 10 The Efficiency of Tradable Pollution Permits MCB 31 46 61 Quantity of Pollution Abatement MCA NAbout five decades ago, when The Environment Protection Agency was created about, it decided to address pollution through command-and-control laws. These laws, draws distinctions between the needs of firms and costly equipment upgrades. were necessary as US industries had zero incentive to control pollution. were an inexpensive incentive for industrial polluters to improve performance. are given considerable credit for cleaner air and water in recent decades.In the case of the ozone regulation, economic analysis suggest that the total benefits (damages avoided) are smaller than the total abatement costs. Draw a graph that depicts this possibility.
- Suppose you are part of an economic analysis team charged with recommending a policy response to pesticide risks. Explain the steps your team should take and why.A city currently emits 16 million gallons (MG) of raw sewage into a lake that is beside the city. The table below shows the total costs (TC) in thousands of dollars of cleaning up the sewage to different levels, together with the total benefits (TB) of doing so. Benefits include environmental, recreational, health, and industrial benefits. Emissions Total Cost Marginal Cost Total Benefit Marginal Benefit 16 MG Current N/A Current N/A 12 MG 50 800 8 MG 150 1300 4 MG 500 1650 0 MG 1200 1950 Complete the table. What is the optimal level of sewage for this city? How can you tell?Firm A currently dumps 247 tons of chemicals into the local river. Firm B currently dumps 246 tons of chemicals into the local river. The government has decided to reduce the pollution and from now on will require a pollution permit for each ton of pollution dumped into the river. The government gives Firm A 32 pollution permits and gives Firm B 48 pollution permits. The abatement costs of one ton of pollution is $153 for Firm A and $89 for Firm B. What would be the total cost of reducing pollution, if the firms are .allowed to trade permits between each other?
