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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 plant Instead,
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.
A monopoly firm faces an inverse demand curve of P = 98 – Q and has a constant marginal (and average) cost curve of 49. If the firm can perfectly price discriminate, what are its profits; what are the consumer surplus, producer surplus and dead weigh..
In preparing the actual forecast numbers, the forecast staff should
Galvanized Products is considering a new computer system for their enterprise data management system. The vendor has quoted a purchase price of $100,000. Galvanized Products is planning to borrow one-fourth of the purchase price from a bank at 15 per..
Explain how an open market sale of Treasury securities by the Fed affects the following:
If you wanted to measure the amount of income households had available after paying personal taxes, which of the following would you use?
Graphics receive the most attention when they are placed where on a page?
A car is financed as follows: $2,000 as a down-payment plus equal monthly payments at 8% annual interest rate compounded monthly for 3 years. Original price of the car was $14,500. It is expected that maintence costs are going to be $400 in the first..
Can an individual be both pro-union and pro-employer, or does being pro-union mean one has to be anti-employer? Can an individual be anti-union and still legitimately claim to support pro-employee interests?
On January 1 2015, your savings account will be worth $259,000. Every month thereafter, you make a cash contribution of $767 to the account. If the fund is expected to be worth $410,000 on January 1, 2020 what will the annual interest rate of interes..
What is the economic rationale behind Airline mergers? Bring both supply side (costs) and demand side (revenue) considerations into your answer. Simple diagrams would be beneficial.
Determine total cost of quality when there are no defectives. D = 0 and product quality is perfect. Determine total cost of quality when D = 90. No company could stay in business with D = 90, as will be apparent from calculations.
Assume an economy without government and without trade. Suppose the Consumption function is given by, whereas I=50. (Remember to show your work)* What is the equilibrium level of income in this case? What is the level of saving in equilibrium?
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