EC238 Study Guide - Montreal Protocol, Economic Equilibrium, Total Maximum Daily Load
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[5 each: each of the following statements is either true, false or uncertain. State which each is and brie y, but precisely explain your answer. Your explanation is the most important part of your answer. (a) a marginal damage curve (mdc) with a zero y intercept indicates that the very rst unit of emissions causes signi cant damage. True: e uent fees are cost-e ective, since they minimize the social cost of achieving a given environmental target. It is also true that they may not minimize the private cost of the rms (compliance cost). [5 each: brie y de ne and explain any three of the following concepts, including the context in which they arise in this course. These terms are present either in the text, the webct course notes or other study materials. (a) psl (b) environmental takings" (c) montreal protocol (d) banking of permits (e) ozone annex.
