Answered: What is the Legal Charges?

Business

Economics

What is the Legal Charges?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 38CTQ: How can high-income countries benefit from covering much of the cost of reducing pollution created...

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What is the Legal Charges?

What is the Violations of EPA Clean Water Act?

How is the Legal Charge and the violation of EPA Clean Water Act that relate to the deepwater horizon of BP oil?

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warten population manghe ecosystem's Carrying capacity? 6. We have the following data for Demand Price and Costs for our product. Quantity Demand Price Costs 300 100 $21.63 $35.35 $5040.00 $2347.67 500 $17.25 $7481.67 1000 $12.70 $12469.67 1500 $10.26 $16196.00 We have reason to believe that the Demand Price is a power (exponential) function of some kind. Our Cost function is close to linear, but we expect, from some market analysis, that it is in fact quadratic. Approximate this data with a Demand Price function and a Cost function. Explain how confident you are; that is, how much error do you think is reasonable in this type of scenario? 区

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3. The table below depicts the marginal cleanup costs for Springfield's two polluters, ACME Corp. and Bluth Industries. Currently, each firm is polluting 100 units (for an industry total of 200 units). However, regulators have decided that the total amount of pollution in Springfield needs to be cut in half. Marginal Marginal Cleanup. Level (A or B) Cleanup Cost Cleanup Cost ACME Bluth 10 15 10 20 20 12 30 30 16 40 45 22 50 65 30 60 90 45 70 120 65 a) Suppose regulators adopt a command-and-control pollution standard that forces each firm to reduce pollution by the same amount, going from 100 units down to 50 units. What is the total cost of cleanup under this regulation? b) Suppose, instead, that regulators adopt pollution taxes. What tax level would guarantee the same outcome? Under the tax, how much pollution would each firm clean up? What is the total cost of cleanup under this regulation? How much tax revenue would the tax generate? c) If regulators were to implement cap-and-trade,…