Effect the demand curve of the right to pollute

Reference no: EM1369072

For any given demand curve for right to pollute, the government can achieve the same outcome either by setting a price with a corrective tax or by setting a quantity with pollution permits.

Suppose there is a sharp improvement in the technology for controlling pollution.

a) Describe the effect of this development on the demand for pollution rights.

b) What is the effect on the price and quantity of pollution under each regulatory system? Explain.

Reference no: EM1369072

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