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28 Oct 2020

3. The efficient level of emissions

a. substantially reduces the amount of pollution in the air.

b. maximizes the profit of a firm from the production and sales of its products.

c. balance marginal damages and marginal abatement costs of pollution.

d. is the maximum level of pollution allowed by the pollution control authority.

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Raushan Raj
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28 Oct 2020

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Related questions

You are a policy advisor responsible for air pollution in a region where there are only two chemical plants run by firm A and firm B. Firm A's pollution abatement costs are 2x^3, where x is a unit of pollution. Firm B is newer and has pollution abatement costs of 2x^2. Assume that neither firm is initially abating pollution. The per-unit benefit to a unit of pollution abatement is a constant $600.

What is the socially optimal level of pollution abatement? What is the socially optimal allocation of pollution abatement across the two firms?

You are a policy advisor responsible for air pollution in a region where there are only two chemical plants run by firm A and firm B. Firm A’s pollution abatement costs are 2x^3 , where x is a unit of pollution. Firm B is newer and has pollution abatement costs of 2x^2 . Assume that neither firm is initially abating pollution. The per-unit benefit to a unit of pollution abatement is a constant $600.

Question: Suppose your boss, an elected politician, decides that each firm must reduce pollution by exactly the same amount. Is this socially optimal?

1  John raises bees to pollinate his orchard, a couple of bees which escaped ended up pollinating his neighbour's orchard so:

a. john's neighbour has received an external cost of john's beekeeping.

b. john's neighbour has received an external benefit of john's beekeeping.

c.john's neighbour has received an internal cost of john's beekeeping.

d.none of the above.

2. external costs are:

a. borne by individuals other than those who incurred them.

b.borned by the public but incurred by the government.

c.another term for implicit costs.

d.borne by the government but incurred by the public.

3. the optimal quantity of ail pollution is:

a. found by setting the quantity of air pollution equal to the quantity of water pollution.

b.a meaningless concept since monetary values cannot be attached to problems associated with pollution.

c.whatever amount of pollution is produced by the profit-maximizing firm.

d. found by equating the marginal benefits from further reductions in pollution and the marginal costs of further reductions in pollution.

4. technological changes that make it easier to produce in a "cleaner" fashion would cause:

a. the marginal cost curve of pollution abatement to shift left increasing the degree of air quality.

b.the marginal benefit curve of pollution abatement to shift left increasing the degree of air quality.

c.the marginal cost curve of pollution abatement to shift right increasing the degree of air quality.

d.the marginal benefit curve of pollution to shit right increasing the degree of air quality.

5. if pollution is bad, why do we still use pollution-causing resources such as coal and oil to generate electricity?

a. the transaction cost of pollution is too low.

b.governements lack the political will to enforce the use of pollution-free resources.

c.pollution is only a private cost.

d.the cost of using pollution-free resources to generate power in many circumstances is much higher than generating the same power through conventional pollution causing means.

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