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Chapter 31: Q. bFCT (page 696)

Who ultimately pays to address costs of negative externalities created by government agencies such as the EPA when they accidentally release pollutants into the environment?

Short Answer

Expert verified

The Federal Agency is also in responsibility of establishing appropriate sensitivity level for pollutants and some other impurities in food, livestock feed, including water.

Step by step solution

01

Introduction

The Environmental Protection Agency is a federal agency of the U.s. States with the goal of protecting environmental quality. Substances and some other pollution are governed by the Environmental Working Group (EPA). Particles, fines, and some other mechanisms are being used by authority to execute its judgments. That is in responsibility for efficiency, environment protection, sustained development, air quality, and contamination prevention efforts.

02

Given Information

Biodiversity, rivers, food standards, and nuclear waste are among some of the areas that the EPA doesn't really oversee.

03

Explanation

Health and comfort by examining the repercussions of pollution and putting limitations about their use. Chemistry and some other toxins be monitored by the Environmental Working Group (EPA). The Federal Agency is also in responsibility of establishing appropriate sensitivity level for pollutants and some other impurities in food, livestock feed, including water.

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Most popular questions from this chapter

Consider the diagram in Problem 31-4, and answer the following questions.

a. Suppose that a new technology for reducing water pollution generates a reduction in the marginal cost of pollution abatement at every degree of water cleanliness. After this event occurs, will the optimal percentage degree of water cleanliness rise or fall? Will the cost incurred for the last unit of water cleanup increase or decrease? Provide a diagram to assist in your explanation.

b. Suppose that the event discussed in part (a) occurs and that, in addition, medical studies determine that the marginal benefit from water pollution abatement is higher at every degree of water cleanliness. Following both events, will the optimal percentage degree of water cleanliness increase or decrease? In comparison with the initial optimum, can you determine whether the cost incurred for the last unit of water cleanup will increase or decrease? Use a new diagram to assist in explaining your answers.

Should policymakers impose additional costly anti-plastics pollution requirements if the marginal benefit of pollution abatement currently equals the marginal cost? Explain.

Suppose that a new chief of the government agency discussed in Problem 31-7decides to reduce the number of pollution allowances that firms are permitted to own. Evaluate the effects this policy change will have on the market price of pollution allowances, and discuss whether the policy appears to be fully consistent with the original intent of creating the market for these allowances.

Describe how governments are trying to cap the use of pollution-generating resources

What is the specific reason that accounting for externalities and thereby shifting the market supply curve causes the equilibrium quantity of Good X to decline from Q1 to Q2?
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