Homework Answers
First statement is correct
Pollution abatement means reducing pollution level. MAC measures how much it would cost the firm to reduce pollution by 1 unit. Pollution can take the form of carbon emission and other pollutants.
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QUESTION 5 What does the Marginal Abatement Cost function show? O How much it costs to abate an extra unit of carbon O...
QUESTION 4 What does the Social Cost of Carbon include? Only damages from climate change each...
QUESTION 4 What does the Social Cost of Carbon include? Only damages from climate change each year Only damages from climate change every year Future damages net of abatement Future damages plus abatement cost QUESTION 5 What does the Marginal Abatement Cost function show? How much it costs to abate an extra unit of carbon How much it costs to increase temperatures How much it costs to abate ll carbon emissions How much it costs to reduce climate change damages...
QUESTION 37 If the abatement cost function is very steep, what does that mean for the...
QUESTION 37 If the abatement cost function is very steep, what does that mean for the optimal temperature increase? O. It should be lower It should be higher & if it is expensive to abate, we should abate less and let the temperature rise It should be unchanged It depends on the energy source QUESTION 38 What is the relationship between abatement and climate change damages? As abatement goes up, damages go up As abatement goes up, damages go down...
QUESTION 8 If only a few countries abate their carbon emissions, what will that mean for...
QUESTION 8 If only a few countries abate their carbon emissions, what will that mean for abatement costs The Marginal Abatement Cost should be lower O The Marginal Abatement Cost should be steeper The damage function will increase The damage function will decrease
Suppose a firm’s marginal abatement function is given by MAC = 120 –2.5E, and it faces...
Suppose a firm’s marginal abatement function is given by MAC = 120 –2.5E, and it faces a $110 per unit emissions tax. Suppose damages caused by this firm’s pollution is given by the function MD = 5E. a) To achieve social efficiency, how many units of emissions should the firm abate? b) What size per unit tax will give the firm an incentive to abate to the socially efficient level of emissions? c) If the firm abates to the socially...
QUESTION 4 What does the Social Cost of Carbon include? o Only damages from climate change...
QUESTION 4 What does the Social Cost of Carbon include? o Only damages from climate change each year Only damages from climate change every year O Future damages net of abatement O Future damages plus abatement cost
QUESTION 34 What is abatement? Getting used to climate change Reducing damages by mitigation Not emitting...
QUESTION 34 What is abatement? Getting used to climate change Reducing damages by mitigation Not emitting carbon Cleaning up damages from emissions QUESTION 35 Which of the following is not an economic metric for estimating climate change damages? Social damage as a function of GDP social cost of carbon O optimal temperature conditional on abatement and damage total stock of carbon emissions QUESTION 36 Is the social discount rate a constant value? Yes, it is always positive No, it can...
Question Completion Status: QUESTION 31 Why is abatement so important? Because it can offset damages Because...
Question Completion Status: QUESTION 31 Why is abatement so important? Because it can offset damages Because requires us to give up resources in the present Because it reduces the need to adapt All of the above QUESTION 32 Why do individual people discount the future? they think the future will be worse they think the future is worth more than the present they are impatient the present is uncertain QUESTION 33 What do inwestors discount the future? they think investments...
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 1 What will happen if we decrease our abatement of carbon over time? OEconomic damages...
QUESTION 1 What will happen if we decrease our abatement of carbon over time? OEconomic damages will decrease Economic damages will increase The optimal temperature goal will decrease Economic damages will be unchanged 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 QUESTION 3...
QUESTION 4 What does the Social Cost of Carbon include? Only damages from climate change each year Only damages from climate change every year Future damages net of abatement Future damages plus abatement cost QUESTION 5 What does the Marginal Abatement Cost function show? How much it costs to abate an extra unit of carbon How much it costs to increase temperatures How much it costs to abate ll carbon emissions How much it costs to reduce climate change damages...
QUESTION 37 If the abatement cost function is very steep, what does that mean for the optimal temperature increase? O. It should be lower It should be higher & if it is expensive to abate, we should abate less and let the temperature rise It should be unchanged It depends on the energy source QUESTION 38 What is the relationship between abatement and climate change damages? As abatement goes up, damages go up As abatement goes up, damages go down...
QUESTION 8 If only a few countries abate their carbon emissions, what will that mean for abatement costs The Marginal Abatement Cost should be lower O The Marginal Abatement Cost should be steeper The damage function will increase The damage function will decrease
QUESTION 4 What does the Social Cost of Carbon include? o Only damages from climate change each year Only damages from climate change every year O Future damages net of abatement O Future damages plus abatement cost
QUESTION 34 What is abatement? Getting used to climate change Reducing damages by mitigation Not emitting carbon Cleaning up damages from emissions QUESTION 35 Which of the following is not an economic metric for estimating climate change damages? Social damage as a function of GDP social cost of carbon O optimal temperature conditional on abatement and damage total stock of carbon emissions QUESTION 36 Is the social discount rate a constant value? Yes, it is always positive No, it can...
Question Completion Status: QUESTION 31 Why is abatement so important? Because it can offset damages Because requires us to give up resources in the present Because it reduces the need to adapt All of the above QUESTION 32 Why do individual people discount the future? they think the future will be worse they think the future is worth more than the present they are impatient the present is uncertain QUESTION 33 What do inwestors discount the future? they think investments...
QUESTION 1 What will happen if we decrease our abatement of carbon over time? OEconomic damages will decrease Economic damages will increase The optimal temperature goal will decrease Economic damages will be unchanged 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 QUESTION 3...
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