The importance of energy conservation desired by the US Politicians and the policies required to promote energy conservation among public.

Question

To evaluate potential policy options that address emissions and climate change, economists often recommend a thorough cost-benefit analysis, in which the avoided environmental and human health damages are weighed against the["marginal abatement costs", "marginal abatement benefits"] . Most estimates by environmental economists suggest that the benefits of emission reduction are somewhere between 5-20% of world GDP, while the costs are between 1-4%. Using a cost-benefit analysis, this would imply that these policies ["should", "should not"] be implemented. The resulting policies can take the form of ["preventive", "adaptive"] strategies, those that reduce damages resulting from climate change, or ["preventive", "adaptive"] strategies that reduce emissions.

Answer 1

Question

Chapter 4.4, Problem 1TTA

To determine

To explain: The importance of energy conservation desired by the US Politicians and the policies required to promote energy conservation among public.

Expert Solution & Answer

Trending nowThis is a popular solution!

See solution

Check out sample textbook solution

Students have asked these similar questions

To evaluate potential policy options that address emissions and climate change, economists often recommend a thorough cost-benefit analysis, in which the avoided environmental and human health damages are weighed against the["marginal abatement costs", "marginal abatement benefits"] . Most estimates by environmental economists suggest that the benefits of emission reduction are somewhere between 5-20% of world GDP, while the costs are between 1-4%. Using a cost-benefit analysis, this would imply that these policies ["should", "should not"] be implemented. The resulting policies can take the form of ["preventive", "adaptive"] strategies, those that reduce damages resulting from climate change, or ["preventive", "adaptive"] strategies that reduce emissions.

clean water is a public benefit since it is impossible to exclude anyone from drinking it, and drinking water by one person does not affect the amount of water available for others to consume. In this situation, market failure occurs because the private market cannot deliver clean water efficiently. This is because private enterprises would be unable to charge for clean water. After all, everyone could drink it even if they did not pay for it. As a result, private enterprises would have little need to invest in supplying safe drinking water. By monopolizing the clean water market, the government can efficiently provide it. The government can charge for clean water as a monopolist, utilizing the revenue to offset costs. Suggest a relevant government policy that would yield efficient outcome. if the government implements a clean water subsidary program as a government policy. carefully explain using 30 words max for each heading, how the imposition of the chosen government policy impacts…

clean water is a public benefit since it is impossible to exclude anyone from drinking it, and drinking water by one person does not affect the amount of water available for others to consume. In this situation, market failure occurs because the private market cannot deliver clean water efficiently. This is because private enterprises would be unable to charge for clean water. After all, everyone could drink it even if they did not pay for it. As a result, private enterprises would have little need to invest in supplying safe drinking water. By monopolizing the clean water market, the government can efficiently provide it. The government can charge for clean water as a monopolist, utilizing the revenue to offset costs. Suggest a relevant government policy that would yield efficient outcome. using 30 words carefully explain the process through which the implementation of the government policy will yield to optimal outcome.