Sustainability - Energy and the Environment - Chapter 14 Please answer the Multi
ID: 291504 • Letter: S
Question
Sustainability - Energy and the Environment - Chapter 14
Please answer the Multiple choice questions
Chapter 14 Economics of EnergyY a Consumers pay the full social cost of Consumers pay only the external cost of s Consumers pay only the external marginal d. Consumers pay less than the socially efficient pollution. d. Pollution is a good that follows the law of supply and demand. e. Both c and d The regulations are in place that sets a limit on the amount of NOx emissions from passenger cars. This is an example of a. Command and control regulation. b. Incentive-based. c. Cost-benefit analysis. d. Ambient standard. e. Pigovian taxation production cost of production. price, since producers are subsidized by e. None of the above. I6 Which of the following is consistent with the command-and-control regulation? 12. When it comes to environmental protection, Taxing producers equal to the external cost a. efficiency standard advocates believe that . Personal safety is the innate right of every created by their pollution b Requiring firms to lower their pollution individual, and no matter the cost, must be levels according to best-available control technology guaranteed. of reduction in pollution. air gets cleaner and cleaner demand and supply are in balance. Requiring firms to reduce their pollution level c. b. The marginal cost of reduction drops per unit c. The marginal benefit of reduction increases as d. An efficient market is a market in which e. All of the above to zero. d. Requiring firms to buy pollution permits to offset their pollution. e. Requiring firms to pay a penalty equal to the external cost of pollution. 17. Which of the following statements is not correct? a. The economical benefits of environmental 3. The unknown potential benefits of environmental protection can be measured only by its monetary protection are called a. Use value. b. Option value c. Existence value d. Hidden value e. Contingent value b. Hedonic regression implies the pleasure one gets from an improved environment. e. Non-market benefits of environmental protection can be estimated by people's willingness to pay for those benefits. some level of pollution is called contingent None of the above. 14. Pocking up a plastic bottle off the street, and d The willingness to rowing it into the ocean is an example of . A positive externality h. A negative externality e. 18. d. A negative, followed by a positive externality e A neutral externality of emissions every month. The local city council passes a bill that requires total monthly emissions to be reduced by eight tons. It costs firm A S5 and 15. Which of the statements below is consistent firm B $20 to cut emissions by one ton. The most with the operation of a profit-maximizing firmefficient way to comply with the ordinance is for Firms A and B negotiating to trade emissions emissions trading that results in in a competitive market that does not penalize polluters, no matter how much they pollute? 491Explanation / Answer
11. d. Ambient standard. These are set by the Environmental Protection Agency to regulate how much pollutes are in the air. They are set to ensure that people are breathing clean air.
12. A. Personal safety is the innate right of every individual, no matter the cost. must be guaranteed.
13. b. Option value. the term option value refers to the value that is placed on private willingness to pay for maintaining or preserving a public asset or service even if there is little or no likelihood of the individual actually ever using it.
14. c. Positive followed by negative externality.
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