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Chapter 12: Q.36 (page 297)
Recycling is a relatively inexpensive solution to
much of the environmental contamination from plastics,
glass, and other waste materials. Is it a sound policy to
make it mandatory for everybody to recycle?
Yes, recycling should be a legal requirement.
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What are the three problems that economists have noted with regard to command-and-control regulation?
Consider two approaches to reducing emissions of CO2 into the environment from manufacturing industries in the United States. In the first approach, the U.S. government makes it a policy to use only predetermined technologies. In the second approach, the U.S. government determines which technologies are cleaner and subsidizes their use. Of the two approaches, which is the command-and-control policy?
In the Land of Purity, there is only one form of pollution, called 鈥済unk.鈥� Table 12.14 shows possible combinations of economic output and reduction of gunk, depending on what kinds of environmental regulations you choose.
a. Sketch a graph of a production possibility frontier with environmental quality on the horizontal axis, measured by the percentage reduction of gunk, and with the quantity of economic output on the vertical axis.
b. Which choices display productive efficiency? How can you tell?
c. Which choices show allocative efficiency? How can you tell?
d. In the choice between K and L, can you say which one is better and why?
e. In the choice between K and N, can you say which one is better, and why?
f. If you had to guess, which choice would you think is more likely to represent a command-and- control environmental policy and which choice is more likely to represent a market-oriented environmental policy, choice L or M? Why?
Technological innovations shift the production
possibility curve. Look at graph you sketched for
Exercise 12.13 Which types of technologies should
a country promote? Should 鈥渃lean鈥� technologies be
promoted over other technologies? Why or why not?
Refer to Table 12.2. The externality created by the refrigerator production was \(100. However, once we accounted for both the private and additional external costs, the market price increased by only \)50. If the external costs were \(100 why did the price only increase by \)50 when we accounted for all costs?
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