Assess the validity of the following statement: If a country fails to deal with domestic pollution, it may be worse off under free trade than autarky and it may export a good that should be imported.
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- "The use of economic instruments (such as emissions charges and emissions trading system) in environmental policies is not effective and weakens our traditional protection of the environment. Command-and-control is cost-effective environmental policy to deal with environmental problems." Discuss.The table below shows the demand for pollution permits to emit hydrocarbons in a particular industrial park. Each permit allows the owner to release one tonne of pollutants into the atmosphere. Price per Pollution Permit Quantity of Permits $4,500 100 4,000 200 3,500 300 3,000 400 2,500 500 2,000 600 1,500 700 were charged, how many tonnes of pollutants would be discharged into the atmosphere, assuming a straight-line a. If fee for a pollution perm demand curve? Quantity: tonnes b. Suppose government were to set a fee of $2,500 per pollution permit. How many tonnes of pollutants would now be dumped? What is the total revenue received by government? Quantity: tonnes Total revenue: $ c. Suppose that a new technology allows for a significant reduction in hydrocarbons at a relatively low cost so that the demand for pollution permits in the industrial park drops by 200 tonnes. Assuming that government holds the permit fee at $2,500, how many tonnes of pollutants would now be dumped? What…Please explain the negative externality created by greenhouse gases (in terms of global warming) and mention the international agreement(s) to combat with global warming.
- Suppose that the xyz industry produces a product that result in negative external cost to society. this information suggest thatSuppose you want to put a dollar value on the external costs of carbon emissions from a power plant. What information or data would you obtain to measure the external (not social) cost?See attached environmental economics
- Discuss the free-riding concept as it pertains to international environmental agreements.The social cost of carbon is measured as the welfare gain associated with the total tons of carbon dioxide emitted. True or falseThe revenues from an emissions-charge approach to controlling climate change would be unusually large in comparison to other pollutants. What circumstances would lead to high revenues?
- Give the Positive and negative impacts of Gmo's in socialUtilizing market-based strategies, government can control contamination. By utilizing approaches, for example, tradable pollution permits or corrective taxes on contamination emissions a. Assume the government has a corrective tax in place on each ton of coal transmitted and there is an increase in the number of firms producing in this industry. If the government wants to maintain the same amount of pollution that existed prior to the entry of these firms, how should it adjust the corrective tax? Provide a well-labelled graph and explain. b. Assume that instead that the government has a pollution permit policy in place and there is an increase in the number of firms producing in this industry. If the government wants to maintain the same amount of pollution that existed prior to the entry of these firms, how should it adjust the number of permits issued? Provide a well-labelled graph and explain.Consider the following graph that shows the marginal abatement cost (MAC) curve for a coal power plan for reducing local air pollution and the marginal damage (MD) curve for those living around the coal power plant. MD (E) MAC (E b. Emissions E-0 E EL E-Max AMax Or Abatement E A-0 What are the total abatement costs at E' (enter your answer with the letters and "+" signs as "a+b+c+d+e+f", without the quotation marks. What are the total abatement costs at E-0 (enter your answer with the letters and "+" signs as as "a+b+c+d+c+f", without the quotation marks. If the property rights were with the coal power plant how much Emissions would we see? (enter one of the following, "E-0", "E", "E1", "E-Max") If the property rights were with the people how much Emissions would we see? (enter one of the following. "E-0", "E", "E1 "E-Max") What is the socially optimal level of emissions (choose from one of the following and enter as written without the quotation marks, "E-0". "E"E1 "E-Max").