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Compute the cost of achieving goal

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Reference no: EM133311804

Tiana's Paper Mill and Jordan's Tire Factory are both polluting the Blue River with 10 tons of green glowing glop per month (each).

Cost of reducing pollution:

$75/ton for Tiana's Paper Mill

$100/ton for Jordan's Tire Factory

If the government issues 14 permits, each allows one ton of green glowing glop pollution. Gives 7 permits to each firm. Establish a market for trading permits. Each firm may use all its permits to emit 7 tons, may emit < 7 tons and sell leftover permits, or may purchase extra permits to emit > 7 tons.

Compute the cost of achieving goal if Tiana's Paper Mill uses 5 permits and 2 sells to Jordan's Tire Factory for $85 each.

Reference no: EM133311804

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