Discuss how to implement a cap and trade program for carbon emissions in electricity. Who should...
Discuss how to implement a cap and trade program for carbon emissions in electricity. Who should get the permits and who would benefit in that situation?
Homework Answers
Cap and trade program limits emission and also puts a price on it . It is one of the best policies formulated for environmental protection which is also very economical . The cap is the limit set on emissions on total that can be allowed , which is set based on scientific standards . Now the trade part is the marketable nature of the permits , which allows companies to buy and sell pollution permits as per requirement . This helps to maintain the total emission at a certain level fixed , also provides incentive to companies to pollute lesser and save money on permits .
In electricity , the production is done by power plants which generate a lot of pollution . A cap can be set on the emission level and permits generated among those power plants . These permits are traded as per market demand and supply for permits . Also consumption of electricity can be restricted by this cap and trade method . Firstly , a cap is set on total consumption of electricity . Now by trading the permits to consume electricity people can alter their consumption level , but the overall total consumption remains same in the economy .
The permits are given to power plants manufacturing electricity . The benefits of this system is reaped by every entity since there is a positive externality from controlling pollution . Firms getting the permits are benefitted .
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Discuss how to implement a cap and trade program for carbon
emissions in electricity. Who should...
Please answer all three. 7. The EPA's CAP program for SO2 gave producers an incentive to look for cheaper ways of lowering emissions becausc A. an emissions rate was mandated for firms and the pen...
Please answer all three.
7. The EPA's CAP program for SO2 gave producers an incentive to look for cheaper ways of lowering emissions becausc A. an emissions rate was mandated for firms and the penalties were high B. increasing scarcity of permits drove their price up C. offset trading offered large trade gains D. emissions taxes were enforced with vigor 8. In a cap-and-trade program, as polluters buy and sell permits, they move to a situation wherc A. all firms'...
Three policies: cap and trade, emissions standards, and carbon taxes. For each of the above three...
Three policies: cap and trade, emissions standards, and carbon
taxes.
For each of the above three policies, answer the following questions and support your answer. i) does the equimarginal condition hold? ii) Is aggregate abatement to the aggregate target met in a cost effective manner?
2. Cap-and-trade for two firms .Suppose that there are two electricity generators, indicated by n...
2. Cap-and-trade for two firms .Suppose that there are two electricity generators, indicated by n- 1,2. The price of electricity is again fixed at $2 per unit. 7 Firm 1 has a production function e(x)x-^x2 forx<3 . Firm 2has a production function e2(x)=2x-4x2 for x < 4 .For both firms, the price of fuel is p1, and the firm has no fixed costs. What is the price of the credits? Which firm buys and which firm sells? How many credits...
Assume that a firm has the following marginal benefit of pollution (denoted E for emissions, measured...
Assume that a firm has the following marginal benefit of pollution (denoted E for emissions, measured in tons): MB=150-5E Q: How much would this firm pollute if pollution is unregulated? The government would like to reduce pollution from this amount by 12 tons and so implements a quantity constraint at the quantity in part (a) minus 12. What is the cost to this firm of reducing pollution by 12 tons? What tax would encourage this polluter to reduce pollution by...
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This program will implement a simple guessing game... Write a program that will generate a random...
This program will implement a simple guessing game... Write a program that will generate a random number between 1 and 50 and then have the user guess the number. The program should tell the user whether they have guessed too high or too low and allow them to continue to guess until they get the number or enter a 0 to quit. When they guess the number it should tell them how many guesses it took. At the end, the...
Imagine you are the owner of a portfolio of electricity generation assets in California with a...
Imagine you are the owner of a portfolio of electricity generation assets in California with a total average annual production of 485,000 MWh. The State legislature has been considering a bill involving the Cap & Trade market and you see the writing on the wall that the bill will likely get passed, which would cause a 500% increase in the cost of carbon dioxide production from the current permit price of $5/ton CO2-eq. On an average annual production basis, your...
Please read and answer the question below: Choose a law, policy, or regulation at the state,...
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You should implement several functions that the Phone Contacts program will need Each function with take...
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Please answer all three.
7. The EPA's CAP program for SO2 gave producers an incentive to look for cheaper ways of lowering emissions becausc A. an emissions rate was mandated for firms and the penalties were high B. increasing scarcity of permits drove their price up C. offset trading offered large trade gains D. emissions taxes were enforced with vigor 8. In a cap-and-trade program, as polluters buy and sell permits, they move to a situation wherc A. all firms'...
Three policies: cap and trade, emissions standards, and carbon
taxes.
For each of the above three policies, answer the following questions and support your answer. i) does the equimarginal condition hold? ii) Is aggregate abatement to the aggregate target met in a cost effective manner?
2. Cap-and-trade for two firms .Suppose that there are two electricity generators, indicated by n- 1,2. The price of electricity is again fixed at $2 per unit. 7 Firm 1 has a production function e(x)x-^x2 forx<3 . Firm 2has a production function e2(x)=2x-4x2 for x < 4 .For both firms, the price of fuel is p1, and the firm has no fixed costs. What is the price of the credits? Which firm buys and which firm sells? How many credits...
You should implement several functions that the Phone Contacts program will need Each function with take in data through the parameters (i.e., variables names listed in parentheses) and make updates to data structure that holds the contact information, return, or print information for a particular contact. The parameters needed are listed in the table below and each function is described below that 1. Make an empty dictionary and call it 'contacts'. Where in your code would you implement this? Think...
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