NR 326 Final Exam (Answered) Complete Verified Solution 2022

NR 326 Final Exam Pollution (EconDef) when the residual assimilation services of the environment are free and unpriced Pollution (Envm Def) - waste assimilating capacity of the environment exceeded -pollution will not be reduced voluntary; requires coercion or and incentive for polluter to abate Types of Pollution Point Source: a single, identifiable, localized source of air, water, thermal, noise or light pollution (can be modeled as a point) Non-point: pollution that cannot be traced back to a single origin or source such as run off water from urban areas and failed septic systems Pollution Vocabulary comply abate emissions (air) - Criteria Air Pollutants . ( Sox, Nox, PM, CO, Lead, O3) effluent (water) - BMP Point Sources (how to minimize them) 1. Emission Standards - laws w/ fines for violation 2. Emission Charges - laws w/ charges 3. Taxes (Pigouvian Tax) - tax laws 4. Tradable Emission Point NonPoint Source 1. Cost-sharing 2.Mandated or Voluntary BMPs (best management practice) Emission Standards a legal limit on the amount of pollutant a single source is allowed to emit Command and Control Approach -pass the law and people will comply -lacking info on control (abatement) costs, regulatory agencies simply assigns each source an equal amount of pollution reduction-- not cost effective -Pros: simplicity, appealing politically -Cons: fines come after the pollution , never enough police to catch the violators, always involves litigation where lawyers are the winners and not the environment Emission Charge a fee collected by the government levied of each unit of regulated pollutant emitted by source essentially as long as it costs you less to abate then it would to pay that charge you abate Pigouvian Tax