1) describe: ‘Without the market for pollution rights, dumping pollutants in the air or water is priceless; in presence of the right to buy and sell the pollution rights, dumping the pollution forms an opportunity cost for polluter.’ describe the importance of this fact to search for the better technology for decrasing the pollution?
2) describe how the law of conservation of matter and energy are related to:
a) The problem of air pollution and
b) The problem of disposal of the solid waste.
describe the tragedy of commons since it relates to the pollution?
3) describe what is meant by the global-warming problem? Also describe how it is addressed? describe how the global warming could hurt one industry, particular region, or the country however helps the other with the help of ex.
4) describe how marketable emissions credits add to overall economic efficiency, compared to across-the-board limitations on maximum discharges of air pollutants by firms.