Chapter 12: Q.18 (page 297)
What is command-and-control environmental regulation?
Short Answer
A command is issued by the government or a comparable agency in order to regulate the environmental policy that has been established.
Chapter 12: Q.18 (page 297)
What is command-and-control environmental regulation?
A command is issued by the government or a comparable agency in order to regulate the environmental policy that has been established.
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Get started for freeWhat is a pollution charge and what incentive does it provide for a firm to take external costs into account?
What is an externality?
Would environmentalists favor command-and-control policies as a way to reduce pollution? Why or why not?
How can high-income countries benefit from
covering much of the cost of reducing pollution created
by low-income countries?
The state of Colorado requires oil and gas companies who use fracking techniques to return the land to its original condition after the oil and gas extractions. Table
Table
Land Restored (in acres) | Total Cost | Total Benefit |
0 | \(0 | \)0 |
100 | \(20 | \)140 |
200 | \(80 | \)240 |
300 | \(160 | \)320 |
400 | \(280 | \)380 |
(a) Calculate the marginal cost and the marginal benefit at each quantity (acre) of land restored. See Production, Costs and Industry Structure if you need a refresher on how to calculate marginal costs and benefits.
b. If we apply marginal analysis, what is the optimal amount of land to be restored?
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