a.
The implicit cost of a ton of greenhouse gas.
a.
Explanation of Solution
The reduced greehouse gases per year can be calculated as follows.
The reduced greehouse gases per year is 3,100,000.
The implicit cost of a ton of greenhouse gas can be calculated as follows.
The implicit cost of greenhouse gas per year is $387.10 per ton.
b.
The cost to reduce the total emission by 3% over next five years.
b.
Explanation of Solution
The reduced greehouse gases per year can be calculated as follows.
The reduced greehouse gases per year is 90,000,000.
The cost to reduce the total emission can be calculated as follows.
The cost to reduce the total emission by 3% over next five years is $340,870,000,000.
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Chapter 1 Solutions
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