Homework 6 - 1 2 3 4 5 Homework6 Economics4545...

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Homework 6 Economics 4545 Due Wednesday November 12 1. Explain the differences between local, regional, and global pollutants. What is the impact of these differences on public policy to control these pollutants? 2. Why would a focus on local air pollution lead to increased regional transport of acid rain precursor pollutants? 3. Assume that you are dealing with a very small country with one lake, one electric utility, and 1000 people who fish on the lake. Total demand for trips (T) depends on travel costs (TC) and catch per day (CPD) which is given by T=20‐TC/10+11*CPD. Total market demand for power (MWH) as a function of price (P) is MWH=100,000‐1000P. Higher power plant emissions lower the catch per day. A new regulation increases the price of electricity from $7 to $8/MWH but increases the catch per day from 5 to 10. If all 1000 people have travel costs of $10 per trip, is this a good policy? Why or why not?
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  • Fall '08
  • EDWARDMOREY
  • Economics, Environmental Economics, Economics4545 DueWednesdayNovember12 Explainthedifferencesbetweenlocal,regional,andglobalpollutants.What, firmshavecontroltechnologieslikethis,explainhowataxversustradable emissionmightresultinconsiderablydifferentcompliancecostsoversome emissionsreductionstargets

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