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Consider the problem of regulating acid rain in the eastern US. Assume emissions are generated in the Midwest and the Northeast but acid rain damage only occurs in the Northeast. One million tons of emissions in the Midwest results in 1 microgram per square meter of deposition; one million tons of emissions in the Northeast results in 2 micrograms per square meter of deposition. Damage (in millions of dollars per year) from deposition (d) is given by: D(d) = d2 /2, where d is measured in micrograms per square meter of deposition. Prior to any imposition of emission controls, the Midwest was emitting only 3 million tons per year, whereas the Northeast was emitting 5 million tons per year. Pollution control costs in either region are given by: C(k) = k2 /2, where k is the amount of emission reduction per year in a region, in millions of tons. 1.1. Write total damages in terms of the amount emissions are reduced in each of the two regions. 1.2.Write an expression for the total social costs, consisting of pollution damage and emission control costs. Write this expression in terms of the amount emissions are reduced in each of the two regions. 1.3. Find the efficient amount of emissions reduction from each region. 1.4. What emission fee, applied in each region, would support this efficient level of emissions? 2. [40 points, 3 parts]. Consider a pollution problem invo
8. For 2,000 years on the far away island of Yap in Micronesia, located in the Pacific Ocean, the inhabitants have been using giant stones as money (Note: this is a true story)
Find the sample mean and variance of the Credit Score variable and find the sample covariance and sample correlation coefficient of Wait Times and Credit Scores.
Assume the following data for a country: total population, 500; population under 16 years of age or institutionalized, 120; not in labor force, 150; unemployed, 23; part-time workers looking for full-time jobs, 10.
Becky really likes Macaroni Grill but can only afford to eat out 4 times a year.So calculate for restaurants the income elasticity of demand?
the widget industry in anytown is a monopoly controlled by widget corp. its demand curve for the local market is given
Presume that three risk-neutral bidders are interested in purchasing a Princess Beanie Baby. The bidders (numbered 1 through 3) have valuations of $12, $14, and $16, respectively. The bidders will compete in auctions as described in parts (a) and (b)..
analyze the past current and future cost considerations of the company and on the basis of your costs analysis create a
Suppose the equation for the LM curve is Y=13500+100r. Use this equation to explain the level of income at which there is a zero lower bound on the federal funds rate, the interest rate that the Fed controls.
Shannon purchases a bond for $1,142.38. The bond matures in 3 years, and she will redeem it at its face value of $1,200. Interest premiums are paid annually. If Shannon will earn a yield of 5%/year compounded yearly, what is the bond interest rate?
Assume the standard deviation is $3,730 and that debt amounts are normally distributed or what is the probability that the debt for a randomly selected borrower with good credit is more than $18,000?
If the demand for corn rise due to its use as an alternative energy source, what will happen to supply of corn's substitute such as soybean?
"A shift outward in the demand curve always results in an increase in total spending (price times quantity) in a good. On the other hand, a shift outward in the supply curve may increase or decrease total spending."
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