Homework Answers
9)Total abatement cost is $7500 which is the area of the rectangle formed by the socially efficient price and quantity of $30 and 250 respectively.
10) Net social benefit is $5000 which is the area of the triangle formed by the socially optimal quantity and the prices of $30 and $50.
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Question 9 (1 point) Consider the figure below. What is the dollar value of the total...
What is the MAC of the 40th unit of abatement? Don't forget the dollar sign. Keep...
What is the MAC of the 40th unit of abatement? Don't forget the dollar sign. Keep two decimal places even if the answer is an even dollar amount. MAC 100 MLAC-100-2E 50 Consider the figure below. What is the dollar value of the total social benefit of reducing emissions from the unregulated quantity to the socially-efficient quantity? Include the dollar sign, don't leave any spaces in your answer and include two decimal places even if your answer is an even...
Question 5 (1 point) There are three polluting sources with the following functions: MAC1 100 4E1,...
Question 5 (1 point) There are three polluting sources with the following functions: MAC1 100 4E1, MAC280 - 2E2 and MAC3 60-0.5E3. Suppose that, at the socially-efficient emissions level, MACT $10. What is the socially-efficient level of emissions? Question 6 (1 point) There are three polluting sources with the following functions: MAC1 100 4E1, MAC280 - 2E2 and MAC3 60- 0.5E3. Suppose that, at the socially-efficient emissions level, MACT $10. What is the total abatement cost? Question 7 (1 point)...
Consider a pulp mill that emits air and water pollution emissions (E) that impose negative external...
Consider a pulp mill that emits air and water pollution emissions (E) that impose negative external costs (damages) onto society. The aggregate marginal abatement cost (MAC) and marginal damage (MD) curves have been estimated follows: MAC = 800 − 20E MD = 20E a. On a diagram, plot the MAC and MD curves. Be sure to label the curves, calculate the vertical intercept and horizontal intercepts of the MAC line, and the intersection point of the two lines. Show all...
Question 1 (1 point) 0.5E, the total damage cost of 20 units of For a marginal...
Question 1 (1 point) 0.5E, the total damage cost of 20 units of For a marginal damage function equal to: MD emissions is __.- not possible to tell with the information given $100 $200 $10 Question 2 (1 point) Consider the following graph. What is the socially-efficient level of emissions? The equation for the marginal damages function is: MD 200 E MDC 900 200 MAC 1200 Emissions Question 3 (1 point) Suppose MAC1 100- 10E, MAC2 50 10E and MD...
Consider two firms (i.e., firms 1 & 2) with heterogeneous marginal abatement cost functions: MAC1=12 -...
Consider two firms (i.e., firms 1 & 2) with heterogeneous marginal abatement cost functions: MAC1=12 - 2E1 MAC2 =10 - E2 Assume the marginal external damages from emissions are: M E D = 1/2 E A . where EA is the sum of the two firms’ emissions. What quantity of emissions do firms produce in the absence of government intervention? What are the total external damages? What are the total abatement costs? Derive the aggregate marginal abatement cost function (Hint:...
Consider two firms (i.e., firms 1 & 2) with heterogeneous marginal abatement cost functions: MAC1 =12−2E1MAC2...
Consider two firms (i.e., firms 1 & 2) with heterogeneous marginal abatement cost functions: MAC1 =12−2E1MAC2 =10−E2. Assume the marginal external damages from emissions are: M E D = 12 E A . where EA is the sum of the two firms’ emissions. What quantity of emissions do firms produce in the absence of government intervention? What are the total external damages? What are the total abatement costs? Derive the aggregate marginal abatement cost function (Hint: This will be a...
Question 12 (1 point) One study indicated that the biggest intervention people could make toward reducing...
Question 12 (1 point) One study indicated that the biggest intervention people could make toward reducing their carbon footprints would be to eat less red meat (due to GHG emissions from raising animals such as cattle). Suppose the external cost of producing one pound of hamburger meat is equal to $1. Given the information in the diagram below, compute the reduction in total social benefit from reducing output of hamburger meat from the market equilibrium quantity to the socially-efficient quantity...
Q4 (1 point). The figure below shows the marginal social benefit, marginal private cost and marginal...
Q4 (1 point). The figure below shows the marginal social benefit, marginal private cost and marginal social cost of producing steel. If the market is competitive and unregulated, how much steel will be produced? oo tons O 2 tons О 4 tons O 8 tons 250 MSC 6200 S = MC Price and cost (dollars per ton of steel) 150 100 50 o 2 D- MSB 6 8 10 Quantity (tons of steel per week) Activate Windows Go to Settings...
Depicted in the below figure 2. Firm 1 has marginal abatement cost "Firm 1 MAC 1" and Firm 2 has ...
depicted in the below figure 2. Firm 1 has marginal abatement cost "Firm 1 MAC 1" and Firm 2 has marginal abatement cost "Firm 2 MAC 1" depicted in figure 1. The industry aggregate marginal abatement cost curve "Aggregate MAC 1 is given in figure 2. a. What is the optimal emissions tax? 0.5 points b. Given the optimal emissions tax what is the total cost of abatement and the total damages of pollution? 0.5 points] c. Suppose that Firm...
QUESTION 2 What does the Social Cost of Carbon tell us? Dollar value of damage per...
QUESTION 2 What does the Social Cost of Carbon tell us? Dollar value of damage per ton of carbon Dollar value of abatement per ton of carbon Amount paid by taxpayers to offset carbon emissions Amount paid by the government to encourage non-carbon energy sources
What is the MAC of the 40th unit of abatement? Don't forget the dollar sign. Keep two decimal places even if the answer is an even dollar amount. MAC 100 MLAC-100-2E 50 Consider the figure below. What is the dollar value of the total social benefit of reducing emissions from the unregulated quantity to the socially-efficient quantity? Include the dollar sign, don't leave any spaces in your answer and include two decimal places even if your answer is an even...
Question 5 (1 point) There are three polluting sources with the following functions: MAC1 100 4E1, MAC280 - 2E2 and MAC3 60-0.5E3. Suppose that, at the socially-efficient emissions level, MACT $10. What is the socially-efficient level of emissions? Question 6 (1 point) There are three polluting sources with the following functions: MAC1 100 4E1, MAC280 - 2E2 and MAC3 60- 0.5E3. Suppose that, at the socially-efficient emissions level, MACT $10. What is the total abatement cost? Question 7 (1 point)...
Question 1 (1 point) 0.5E, the total damage cost of 20 units of For a marginal damage function equal to: MD emissions is __.- not possible to tell with the information given $100 $200 $10 Question 2 (1 point) Consider the following graph. What is the socially-efficient level of emissions? The equation for the marginal damages function is: MD 200 E MDC 900 200 MAC 1200 Emissions Question 3 (1 point) Suppose MAC1 100- 10E, MAC2 50 10E and MD...
Question 12 (1 point) One study indicated that the biggest intervention people could make toward reducing their carbon footprints would be to eat less red meat (due to GHG emissions from raising animals such as cattle). Suppose the external cost of producing one pound of hamburger meat is equal to $1. Given the information in the diagram below, compute the reduction in total social benefit from reducing output of hamburger meat from the market equilibrium quantity to the socially-efficient quantity...
Q4 (1 point). The figure below shows the marginal social benefit, marginal private cost and marginal social cost of producing steel. If the market is competitive and unregulated, how much steel will be produced? oo tons O 2 tons О 4 tons O 8 tons 250 MSC 6200 S = MC Price and cost (dollars per ton of steel) 150 100 50 o 2 D- MSB 6 8 10 Quantity (tons of steel per week) Activate Windows Go to Settings...
depicted in the below figure 2. Firm 1 has marginal abatement cost "Firm 1 MAC 1" and Firm 2 has marginal abatement cost "Firm 2 MAC 1" depicted in figure 1. The industry aggregate marginal abatement cost curve "Aggregate MAC 1 is given in figure 2. a. What is the optimal emissions tax? 0.5 points b. Given the optimal emissions tax what is the total cost of abatement and the total damages of pollution? 0.5 points] c. Suppose that Firm...
QUESTION 2 What does the Social Cost of Carbon tell us? Dollar value of damage per ton of carbon Dollar value of abatement per ton of carbon Amount paid by taxpayers to offset carbon emissions Amount paid by the government to encourage non-carbon energy sources
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