How emissions from cars generate a negative externality

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Reference no: EM133300915

Assignment: Consultants Carbon Footprint estimated the carbon emissions of three cars sold in the US in 2020 over 10,000 miles. The basic Tesla Model 3, Toyota Prius, and Audi A3 would generate 0.67, 1.69 and 2.93 metric tons respectively.

Question 1: Explain how emissions from cars generate a negative externality.

Question 2: Draw a figure with number of miles on the horizontal axis and marginal benefit/cost on the vertical axis. Using any data necessary, draw your marginal benefit and marginal cost of driving. Also draw the marginal cost of emissions to society.

Question 3: Ignoring the externality, how much would you drive?

Question 4: Compare the economically efficient driving of the Tesla, Prius, and Audi.

Reference no: EM133300915

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