# environmental economics homework help

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• Q1:UMass RESEC 262 Summer 1) The Clean Air Act requires the EPA to set these standards "requisite to protect the public health" with "an adequate margin of safety." This has been referred to as zero-risk standards. Use the graph below to answer the questions below concerning the economics of zero-risk ambient concentration standards. Aggregate marginal abatement costs A¹ A² A³ Aggregate marginal damage A4 Problem A5 Ambient concentration a. What is the maximum ambient concentration in the graph that would achieve the zero-risk goal? [1 point] b. Is a zero-risk ambient concentration standard likely to be efficient? Why? [2 point]See Answer
• Q2:UMass MAC₂ RESEC 262 Summer 2) In the graph below are aggregate marginal abatement cost (MAC) and marginal damage (MD) functions for two regions of the country, 1 and 2. Use it to answer questions below. A¹ MAC₁ 1 I MD₁ A² A³ A4 MD₂ Problem Ambient concentration a. Indicate the efficient ambient standards in the graph above. [1 point] b. Use the graph to explain why a uniform ambient concentration standard for the country will be inefficient. [2 points]See Answer
• Q3:UMass ΜΑ CA 3) Below is the graph of the marginal abatement cost schedules of two firms, A and B. Suppose that the two firms face a uniform emissions standard Eº. Explain why this is not a cost-effective policy to control emissions. [2 points] ΜΑ CB RESEC 262 Summer ED Problem EmissionsSee Answer
• Q4:UMass RESEC 262 Summer a 4) The firm in the graph below faces a tax for each unit of emissions that it releases. Marginal abatement cost b Emissions Problem a. Clearly mark in the graph the firm's choice of emissions when it faces the tax 7. [1 point] b. What is the: [3 points] i. total tax bill ii. total abatement costs, and iii. total compliance costs when it faces the tax 7.See Answer
• Q5:UMass IN RESEC 262 Summer 5) In the graph below are the marginal abatement costs of two firms, A and B. Suppose that they face the same emissions tax. Marginal abatement costs for firm A E Problem Marginal abatement costs for firm B Emissions a. In the graph indicate each firm's choice of emissions. Label these choices as EA and EB. [1 point] b. Use your answer to (a) to explain why an emissions tax will be a cost- effective policy tool. Three or four sentences should be enough. [2 points]See Answer
• Q6:UMass RESEC 262 Summer Problem 6) In the graph below, marginal enforcement costs have been added to aggregate marginal abatement costs to indicate that enforcement costs are an additional cost of controlling emissions. Aggregate Marginal Abatement Coggregate Marginal Damage (\$) Aggregate Marginal Abatement Cost plus Marginal Enforcement Costs Emissions EU a. In the graph identify the efficient emissions tax and the efficient level of emissions. [2 points] b. Explain why the efficient emissions tax is lower than the value that equates Aggregate Marginal Damage to Aggregate Marginal Abatement Cost plus Marginal Enforcement Costs. [2 points]See Answer
• Q7:7) The graph below is of a single source of pollution that operates under a transferable discharge permit policy. The market price of permits is p', which the firm takes as fixed. The firm is given (for free) either q° or q¹ permits initially. \$ p MAC qº q¹ Emissio ns Permits a. What is the efficient level of emissions for a firm, given p* price of permits? Indicate it in the graph. [1 point] b. Use the graph to help explain why the initial allocation of permits does not affect how many permits the firm chooses to hold after trading is complete. [2 points]See Answer
• Q8:8) The graph below is of aggregate marginal damage and aggregate marginal abatement costs associated with some pollutant. Suppose a regulator wishes to control emissions with a competitive transferable emissions permit policy. p* Aggregate Marginal Abatement Costs d C Q*=E* b a EU Aggregate Marginal Damage Aggregate Emissions a. Identify the efficient supply of emissions permits. What will be the price of permits if sources trade them competitively? [1 point] b. Identify the reduction in aggregate damage from the efficient policy. [1 point] c. Identify the aggregate abatement cost of the efficient policy. [1 point] d. Identify the aggregate value of all emission permits. Under what circumstances does this value accrue to the pollution sources? Under what circumstances does this value accrue to theSee Answer
• Q9:UMass RESEC 262 Summer Problem 9) Think about the environmental issue you have been writing about: [8 points] a. Can you implement emissions taxes? b. Can you implement emissions permits? c. Describe how you would do this and which method you think would work better.See Answer
• Q10:3. Lucy and Melvin share an apartment. They spend part of their income on private goods such as food and clothing, which they consume separately, and part of their income on public goods such as the refrigerator, heating and rent, which they share. Lucy's utility function is 2XL+G and Melvin's utility function is XM6, where XL and XM are the sums of money spent on private goods for Lucy and Melvin, and G is the sum of money spent on public goods. Lucy and Melvin have a total of \$8,000 a year to spend on private goods for each of them and on public goods. a. What is the absolute value of the marginal rate of substitution between private and public goods for Lucy? What is this value for Melvin? Write an equation to calculate the Pareto efficient quantity of public goods. b. Suppose Melvin and Lucy each spend \$2,000 on private goods and the remaining \$4,000 on public goods. Is this Pareto efficient? c. Give an example of another Pareto optimal outcome in which Melvin receives more than \$2000 and Lucy receives less than \$2000 for their consumption of private goods. Give an example of another Pareto optimum in which Lucy receives more than \$2000./nd. The Pareto optima that makes Lucy better off and Melvin worse off will have (more, less, the same amount) of public goods than the Pareto optimum that treats them the same.See Answer

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