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23-02-2024
Business

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(a) Relative to the no-regulation status quo, what is the efficiency gain that would result
from this tax. Delineate and refer to relevant sections of the diagram. With reference
to the diagram, explain why this tax fails to maximize the potential efficiency gains.

(b) Relative to no regulation, what are (i) costs to the firm, (ii) benefits to the
environment from this tax policy and (iii) benefits to taxpayers?

(c) The government is also considering, as an alternative to the tax, the efficient standard
on emissions from the plant. Would the firm prefer this standard to the (sub-optimal)
tax in this case? Defend your answer with reference to the diagram.

a Relative to the noregulation status quo what is the efficiency gain that would result from this tax Delineate and refer to relevant sections of the diagram Wi class=

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