Posted: December 30th, 2021
Support all your answers by graphs! Assume that to meet pollution reduction obligations Canada places a cap on domestic carbon dioxide (CO2) emissions. Compare (i) a command-and-control approach, (ii) a tradable emission permits (TEP’s) system and (iii) an emission tax as ways to achieve the cap. Assume that government implements the tool uniformly: either x-units standard for each polluter, or the same emission charge $y for each polluter, or z-permits to each polluter. Compare these three tools with respect to:
1. Achieving efficient allocation of emissions.
2. Achieving cost-effective allocation of emissions.
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