Please help ))()())(( b) At abatement level a*, does the firm still emit pollution? Explain why or why not somelevels of pollution are socially desirable. The below graph depicts societies willingness to pay for pollution abatement and themarginal cost of reducing pollution.$AP₁C₁1a₁ or a*1974MC174²179 1680 20000WTPThoogsritenidiona(Pollution abatement)a) At abatement level al, is too much or two little pollution abatement occurring?

The measures taken to reduce, stop and eliminate pollution from the environment are termed pollution…

Answered: $A P₁ C1 a₁ bin a* MC WTP jarij 580008…

$A P₁ C1 a₁ bin a* MC WTP jarij 580008 di gridion a 208354 (Pollution abatement) a) At abatement level al, is too much or two little pollution abatement occurring?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 30CTQ: Would environmentalists favor command-and-control policies as a way to reduce pollution? Why or why...

See similar textbooks

Related questions

Q: The graph shows an equilibrium in the market for reserves. An open market sale would shift the…

A: Reserve requirements are the amount of funds that a bank holds in reserve to ensure that it is able…

Q: A policy that increases saving a. will worsen economic growth, but improve health outcomes. b. will…

A: Economic growth basically refers to the expansion in the production of goods and service in an…

Q: An outside lag is Select one: a. the time it takes for real GDP to reach its potential. b. the…

A: Monetary policy is a policy implemented by the central bank of a country (such as the Federal…

Q: c. Given your observations in 1)c., consider an economy that converges towards .. When and why would…

A: a) Derive the desired number of children under the assumption that education is provided by public…

Q: Equilibrium in the money market occurs when Select one: a. the transactions demand for money equals…

A: Money demand refers to the quantity of money that individuals and firms want to hold at a given…

Q: Interest Rate 8765432 11 0 Sm Dm 100 200 300 400 500 600 Quantity of Money ($ billions) If the…

A: Bond is a debt instrument issued by government or corporation to raise money in financial…

Q: In the figure above the firm is suffering negative economic profit. the firm is operating in a…

A: A monopoly is a market structure in which a single seller controls the entire supply of a particular…

Q: Suppose that in 1994 the total output in a single-good economy was 7,000 buckets of chicken. Also…

A: Price in 2015 = $16Price in 1994 = $10

Q: In the short-run, a monopolistically competitive firm: Select an answer and submit. For keyboard…

A: In a monopolistic competition differentiated products are sold by sellers. A monopolistic…

Q: Place the black point (plus symbol) on the graph to indicate the short-run profit-maximizing price…

A: Marginal revenue is a central concept in microeconomics that describes the additional total revenue…

Q: (Figure: The Quantity of Pollution in Coal Production) Use Figure: The Quantity of Pollution in Coal…

A: The optimal quantity is where social welfare maximized. The optimal quantity is where MSB and MSC…

Q: A studied difference in women's and men's labor market outcomes is their different distributions in…

A: "As per the policy, we can provide solution to the first three subparts. Kindly raise the question…

Q: When the Central Bank increases the money supply, interest rates fall and consumers spend more.…

A: The money supply is the total amount of circulation and deposits in an economy at a period of time.…

Q: Question 3 is based on the following information: Assume that the... nominal exchange rate (E) is R1…

A: Nominal exchange rate (E)= $0.20Expected exchange rate at the end of period (Ee) = $0.20Domestic…

Q: (a) Explain the effects on the equilibruim if Total Factor Productivity decreases temporarily. (b)…

A: a) Problem Statement: The core problem is understanding how changes in Total Factor Productivity…

Q: ill in the missing values in the table of data collected in the household survey. The working- ge…

A: The labor force is the sum of employed and unemployed people. i.e., Labor force = Employed +…

Q: Asymmetrical violence (including terrorism) has historically accompanied eras of global economic…

A: Globalization rеfеrs to thе intеrconnеctеdnеss and intеrdеpеndеncе of еconomiеs, sociеtiеs,…

Q: What about barbados?

A: Here's a comprehensive overview of Barbados' economic situation and the rationale behind the…

Q: The first table describes an economy's labor market in 2014 and the second table describes its…

A: Labor productivity is a measure of how efficiently labor is being used to produce goods and…

Q: Consider a lake found in the village of Sturbridge, and then answer the questions that follow. The…

A: Economic ProfitsEconomic profits are the revenue created minus explicit and implicit costs. Explicit…

Q: Consider two hypothetical countries. In Country A, 18 percent of the labour force is unemployed for…

A: This can be defined as a situation In which the person is actively finding a job and has have…

Q: Scenario 2 Suppose the marginal product of capital is MPK=2-0.001K, the capital stock depreciates at…

A: Gross Investment is defined as the total expenditure or investment that is made by a company to…

Q: Consider the demand curve illustrated in the figure to the right. Is demand elastic or inelastic? O…

A: The price elasticity is calculated as the percentage change in quantity demanded divided by the…

Q: The graph to the right shows the demand and cost curves for a natural monopoly. 1.) Using the point…

A: The monopoly market is the market structure characterised by a single seller and many buyers. The…

Q: For the utility function U = Qx0.42Qy(1-0.42) find the trade-off rate between good X and good Y at…

A: To find the trade-off rate between good X and good Y for the given utility function , we need to…

Q: Nominal GDP for the Bahamas for 2020 and 2021 Year 2020 2021 Nominal GDP for the Bahamas (B$ Mil)…

A: The real GDP is price-adjusted nominal GDP, it portrays the real economic growth in the economy.

Q: Which of the following would restore efficiency in this market? A. A quantity limit of 10 B. A…

A: Demand:Demand is the desire of an individual ability and willingness to pay for a product. The…

Q: 2. The Clayton and Celler-Kefauver Acts The Celler-Kefauver Act prohibits which of the following…

A: The Celler-Kefauver Act amended the Clayton Antitrust Act to cover the acquisition of assets (not…

Q: (a) Suppose the information in the following table is for a simple economy that produces only four…

A: This can be defined as a concept that shows the total production of commodities and services in an…

Q: If the price of a Spyder drops to $800,000, Instructions: Enter your responses as a whole number. a.…

A: This can be defined as a concept that shows the summation of the surplus of both parties that…

Q: 2. Individual Problems 17-2 You're a contestant on a TV game show. In the final round of the game,…

A: The expected payoff is the payoff that is expected to be gained after knowing the probability of…

Q: Assume that the gross domestic product is $6,000, personal disposal income is $5,100, the government…

A: Disclaimer- “Since you have asked multiple questions, we will solve the first three questions for…

Q: In the table below, fill in the missing blanks to complete the summary of the effects of changes in…

A: A demand curve shows the relationship between the price of a good and the services and the demand…

Q: Consider a country with a nominal gross domestic product (GDP) of $25 billion in 2016 and $30…

A: This can be defined as a concept that shows the total production of commodities and services in a…

Q: 3. Redistributive philosophies Complete the following table by selecting the redistributive…

A: Utilitarianism refers to theory which emphasises overall happiness in society or benefit to greatest…

Q: Suppose the supply for a certain textbook is given by p=q and demand is given by p= -- where p is…

A: The demand curve shows an inverse relationship between price and quantity demanded. Demand is a…

Q: Fill in the blanks to make the following statements correct. a. When there is no change in the…

A: A subfield of economics known as macroeconomics studies the economy as a whole at the aggregate…

Q: Identify a article that illustrate a market failure "water pollution" in Trinidad and Tobago. (i)…

A: The objective of the question is to identify an article that illustrates a market failure,…

Q: Which of the following will not cause a shift in the demand curve for new houses?…

A: Demand refers to the quantity of goods or services that a consumer is willing and able to buy at a…

Q: Match the characteristics below with the appropriate models of firm behavior. Many firms,…

A: Market structure refers to the study of different types of markets. There are four types of market,…

Q: Which country has an absolute advantage in the production of beer and which country in butter

A: Absolute advantage occurs when a producer can provide a good or service in greater quantity for the…

Q: Use the table below to answer the following questions. Real Consumptio GDP n $300 310 320 330 340…

A: DISCLAIMER “Since you have asked multiple questions, we will solve the first three questions for…

Q: Please label the statements regarding child labor as true or false. You are currently in a labeling…

A: Child labor, in economic terms, refers to the engagement of children in work that deprives them of…

Q: Given that f(x) = b^x for b > 0, determine the values of b that will make the function f an…

A: This can be described as a concept that shows when an individual, firm, or any entity uses an…

Q: A computer company produces affordable, easy-to-use home computer systems and has fixed costs of…

A: To create the table and analyze the costs, we need to calculate the total cost, marginal cost,…

Q: Given the data provided in the table below, what will the marginal revenue equal for production at…

A: Marginal revenue refers to the additional revenue generated from selling one more unit of a good or…

Q: Discuss in detail the law of diminishing returns and how it explains the shape of the short-run…

A: The objective of this question is to understand the law of diminishing returns and how it influences…

Q: Calculate the present worth of all costs for a newly acquired machine with an initial cost of…

A: Present worth refers to the value that the future asset or the future investment alternative has at…

Q: You estimate that your cattle farm will generate $1 million of profits on sales of $5.4 million…

A: Degree of operating leverage measures the sensitivity of a company's operating income to changes in…

Q: The following graph shows the marginal cost (MC) and average total cost (ATC) and the initial demand…

A: Perfect competition is a type of market where there are very large number of firms,which have no…

Question

Please help ))()())((

b) At abatement level a*, does the firm still emit pollution? Explain why or why not some
levels of pollution are socially desirable.

The below graph depicts societies willingness to pay for pollution abatement and the
marginal cost of reducing pollution.
$A
P₁
C₁1
a₁ or a*
1974
MC
17
4²
179 1680 20000
WTP
Thoog
sritenidion
a
(Pollution abatement)
a) At abatement level al, is too much or two little pollution abatement occurring?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Define Pollution Abatement

VIEW

Step 2: Explain Socially desirable pollution levels

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

From an economic perspective, is it sound policy to pursue a goal of zero pollution? Why or why not?
Give an example of a positive externality and an example of a negative externality.
Would environmentalists favor command-and-control policies as a way to reduce pollution? Why or why not?
Is zero pollution an optimal goal? Way or why not?
What are the costs of pollution according to the Lancet Commission on pollution and health? Why are those numbers likely to be an underestimate? Explain.
What should the government set their corrective tax to if they want to eliminate 7 units of pollution?
How do economists determine the optimal amount of pollution control?
Assume that the market for tradable emissions permits by power plants has been operating efficiently for severalyears. An engineering firmthen invents a lower cost device for pollution abatement. What happens to theequilibrium market price of a tradable permit, and why? Draw a supply and demand diagram, with a fixedsupply of pollution permits, along with your answer.Has the socially optimal amount of pollution increasedor decreased? Explain
Use a graph to explain the benefits a farmer will experience if pollution of a nearby industry decreases.
There are three industrial firms in Happy Valley.FirmInitial PollutionLevelCost of ReducingPollution by 1 UnitA 30 units $20B 40 units $30C 20 units $10The government wants to reduce pollution to 60 units,so it gives each firm 20 tradable pollution permits.a. Who sells permits and how many do they sell?Who buys permits and how many do they buy?Briefly explain why the sellers and buyers are eachwilling to do so. What is the total cost of pollutionreduction in this situation?b. How much higher would the costs of pollutionreduction be if the permits could not be traded?
EOC 11.04 Two businesses, X and Y, each dump 20 tonnes of pollution into a creek. In an effort to reduce pollution, the government will now require businesses to have a pollution permit to dump pollutants in the creek. Each business receives 10 pollution permits and they can use it to pollute or sell it to the other business (but lose the ability to pollute). To reduce pollution it costs business X $100 per tonne of pollutant eliminated and it costs business Y $50 per tonne of pollutant eliminated. Once the two businesses have traded these permits with each other, what is the likely outcome? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a business X emits 10 tonnes of pollutants and business Y emits 10 tonnes of pollutants. b business X no longer pollutes, and business Y will not lower the amount it pollutes. business X raises its pollution, and business Y will lower how much it pollutes. business Y no longer pollutes, and…
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 perPollution Permit Quantity of Permits $4,500 75 4,000 150 3,500 225 3,000 300 2,500 375 2,000 450 1,500 525 a. If no fee for a pollution permit were charged, how many tonnes of pollutants would be discharged into the atmosphere, assuming a straight-line demand curve? Quantity: tonnesb. Suppose government were to set a fee of $3,500 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 150 tonnes. Assuming that government holds the permit fee at $3,500, how many tonnes of…