Consider senario 4C more closely a) if the $90 million environmental impact is a

Question

Consider senario 4C more closely

a) if the $90 million environmental impact is accurate, wahtis the environmental cost per barrel(based on your calculated equilibrium quantity)

b)use this per barrel cost to create a supply function that represent total social cost graph this function. overlay on the original graph you drew in question.

c)find the accurate equilibrium price and quantity using your total social cost supply function from the previous question.

d)calculate the dead weight loss caused by the environmental externality.

e)demonstrate that an environmental tax equivalent to the per barrel impact benefit society economically.

Explanation / Answer

a)This research aims to provide a more comprehensive, life cycle accounting of two categories of environmental and economic benefits associated with the $90 billion US

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