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Per the Kyoto Protocol, European countries have targeted a reduction of CO2 emissions. There are two main types of coal-fire plants in the EU: one type is designed to be able to be retrofitted with abatement equipment at a lower cost than the other type. The EU government has given its economists the job of figuring out the least costly way to reach the goal of reducing pollution by 120 tons of CO2 this year. The marginal abatement costs for each type of plant are as follows: Type 1: MC1 = 5q1 Type 2: MC2 = 3q2 where q1 is the total tons of CO2 removed by type 1 plants where q2 is the total tons of CO2 removed by type 2 plants The EU implements an emissions tax.
a. Find the tax per ton of carbon that would allow the EU's target to be reached at the lowest cost.
b. Draw the graph and label the tax. Using one of the firms as an example, explain the process by which economic incentives move the firms to the efficient q of abatement.
c. Using your calculations from #1 and additional calculations here, show that the using the tax is the efficient method of abating pollution.
At April 30, partners' capital balances in PDL Company are: G. Donley $48,100, and J. Pinkston $17,600. The income sharing ratios are 5 : 4 : 1, respectively. On May 1, the PDLT Company is formed by admitting J. Terrell to the firm as a partner. Lama..
If the quantity of investment is very sensitive to changes in interest rates:
Which of the subsequent is a Keynesian conclusion about how adjustments occur in a recessionary gap?
Find the effective interest rate per quarter at a nominal rate of 8% compounded (a) quarterly, (b) monthly, (c) weekly, (d) daily, and (e) continuously?
Elucidate the rationale and the implications of the new guidelines which used by the Department of Justice also the Federal Trade Commission for evaluating proposed mergers.
Some politicians and financial/economists argue that the U.S. must embark upon an era of “financial repression” in which wealth must be kept from fleeing the country and must be taxed heavily within the country. What would be the rationale for financ..
Business firms become pessimistic about their future earning capacity as do banks. Nominal interest rates fall during recession.
Consider an economy with two sectors, high tech (H) and low tech (L), and three types of workers: scientists (S), managers (M) and blue-collar (B). S and B are the septic factors of the H and L sectors, respectively. Managers can work in both sectors..
Top four firms in Industry B have market shares of top four firms in Industry B have market shares of 15,12,8 and 4 percent, respectively. Calculate four-firm c0ncentration ratios for two industries. Which industry is more concentrated.
An individual likes owning cars is better. In order to own a car, an individual must have a 1:4 ratio of frames to tires.
In the short run, a firm cannot vary its capital, K=2, but it can vary its labor, L. It produces output q. Explain why the firm will or will not experience diminishing marginal returns to labor in the short run if its production function is q=10L+K. ..
Crew Brew of Wisconsin plans to build a microbrewery on a small stream in that state. After sampling water from the stream, Chris Pierson has found that it is contaminated with pulp and paper waste from a local paper mill.
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