1. What are the obligations of the firm when it comes to the impact of pollution...

1. What are the obligations of the firm when it comes to the impact of pollution and climate change on people and the environment? Is there a different role for the individual within a business? What is the role of the consumer? What is the role of government? Why?

2. Choose an externality that has impacted your life. Explain the situation, identifying relevant agents and discussing the MSB and MSC. Model the scenario in its market outcome. Then, proffer a potential solution that would improve efficiency and be satisfactory to you, describing the policy and modeling it as a “regulated” outcome on your model.

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Rahul Sunny answered 1 year ago

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Firm A: initial pollution level = 120, cost to reduce pollution 1 unit = $75 Firm...

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Suppose pollution comes from two firms: H and L. The aggregate marginal benefit from pollution to...

Suppose pollution comes from two firms: H and L. The aggregate marginal benefit from pollution to firms is described by MB=16-(2/3) y, where y is total pollution. The two firms’ marginal benefit from pollution is described by the following functions: MBH = 24-2y H MBL = 12-y L where y H and y L represent the level of pollution for firm H and firm L; that is, y= y H +y L . The government study has concluded that...

Suppose pollution comes from two firms: H and L. The aggregate marginal benefit from pollution to...

Suppose pollution comes from two firms: H and L. The aggregate marginal benefit from pollution to firms is described by MB=16-(2/3) y, where y is total pollution. The two firms’ marginal benefit from pollution is described by the following functions: MBH = 24-2y H MBL = 12-y L where y H and y L represent the level of pollution for firm H and firm L; that is, y= y H +y L . The government study has concluded that...

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1. What are the obligations of the firm when it comes to the impact of pollution...

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