ECS2606 Assignment 2 Semester 1 2023

ECS2606 Assignment 2 Semester % TRUSTED workings, explanations and solutions. For assistance call or us on . 1. Briefly explain the case for the emission trading system. [3] 2. In comparison with emission standards, do you think a trading system makes the most sense? How would you advise the government? [7] 3. Explain why command and control instruments such as standards are more often implemented than incentive-based instruments [5] 4. Explain how multiple sources of emissions can be controlled by using the equimarginal principle [10] 5. Examine the relationship between economic growth and the environment in developing countries from a static perspective. Make use of a graph. [15] 6. Explain the implication that would be on the quantity produced if the same environmental regulations were made effective on two firms, one with an elastic demand curve and the other with an elastic demand curve. [10]