12. Provide an example of an opportunity cost that would be incurred if the Unit
ID: 1127232 • Letter: 1
Question
12. Provide an example of an opportunity cost that would be incurred if the United States adopt policies to significantly reduce carbon dioxide emissions. 13. "Adaptation" is a termused to describe a potential response to climate change. In one senter provide an example of a practically costless adaptation that a person or business might make t generallywarmertemperatures. For example, a farmermight switch crops if current crop yield are decreasing because of climate change. 14. Why are the concerns of resource pessimists so often misplaced-what are two factors they typically fail to account for? 15. Hypothesize in four sentences orless why a country like Norway has not suffered from the "resource curse." Norway is has a booming oil and gas industry. They are ableto avoid the resource curse by not binging on revenues. They continue to invest theiroil and gas money in giant sovereign wealth fund. 16. Provide a list of two pros and two cons for making current investments in climate change abatement from an intergenerational equity perspective.Explanation / Answer
Answer 12. Opportunity cost to such type of cost in which one option is chosen in place of other available option(s). So if the US invests in reducing carbon dioxide emission then the opportunity cost can be in the form that such money could be invested elsewhere which would have beefitted the country as a whole like in social and phsycial infrastructure. This could have benefitted the country both to the poot as well as the rich class.
Answer 13. Such an example of adaptation where change in climate will automatically lead to the change in the business is in case of clothes manufacturers. As in this case when the summers get over and winter arrives the clothes which are produced in summer gets are not produced anymore and winter clothing production starts taking place.
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