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Chapter 12: Q.18 (page 297)

What is command-and-control environmental regulation?

Short Answer

Expert verified

A command is issued by the government or a comparable agency in order to regulate the environmental policy that has been established.

Step by step solution

01

Command-and-control approach : 

The enforced environmental policy is directed by command-and-control policy. It depicts a certain form of regulation.

02

Explanation : 

The government's command and control regulation is a set of rules that the government uses to maintain control over the market. A command is issued by the government or a comparable agency in order to regulate the environmental policy that has been established. For example, a directive to minimize pollution might be as simple as setting emission levels or as complex as constructing pollution control equipment.

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Most popular questions from this chapter

Table 12.12, shows the supply and demand conditions for a firm that will play trumpets on the streets when requested. QS1 is the quantity supplied without social costs. QS2 is the quantity supplied with social costs. What is the negative externality in this situation? Identify the equilibrium price and quantity when we account only for private costs, and then when we account for social costs. How does accounting for the externality affect the equilibrium price and quantity?

Will a system of marketable permits work with thousands of firms? Why or why not?

Can extreme levels of pollution hurt the economic

development of a high-income country? Why or why

not?

Identify whether the market supply curve will shift right or left or will stay the same for the following:

a. Firms in an industry are required to pay a fine for their carbon dioxide emissions.

b. Companies are sued for polluting the water in a river.

c. Power plants in a specific city are not required to address the impact of their air quality emissions.

d. Companies that use fracking to remove oil and gas from rock are required to clean up the damage.

Show the market for cigarettes in equilibrium,

assuming that there are no laws banning smoking in

public. Label the equilibrium private market price and

quantity as Pm and Qm. Add whatever is needed to the

model to show the impact of the negative externality

from second-hand smoking. (Hint: In this case it is the

consumers, not the sellers, who are creating the negative

externality.) Label the social optimal output and price as

Pe and Qe. On the graph, shade in the deadweight loss at

the market output.
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