Answer:
a. the marginal costs of damages are steep and the marginal costs of pollution reduction are relatively stable.
Explanation:
Pollution can be defined as the physical degradation or contamination of the environment through an emission of harmful, poisonous and toxic chemical substances.
Offset trading refers to a type of trading system that is typically designed for the realization of more efficient pollution control.
This ultimately implies that, an offset trading is a strategic program that allows emerging business firms to pay existing business firms in order to significantly reduce their emissions or pollutants below a specific standard.
Free market in tradable pollution permits simply means giving manufacturing companies and individuals the legal right to pollution of the environment. For example, XYZ company is purchasing the permit of 500 units of carbon dioxide (CO2) pollution annually, this simply means it is permitted to pollute the environment by 500 units of CO2 annually.
Additionally, a free market in tradable pollution permits has some sort of benefits as companies can resell their unused permits or devise a cheaper means of reducing pollution. It also compensate companies that significantly reduces its pollution of the environment.
A pollution tax can be defined as a type of tax imposed on business firms that causes pollution and damages to the environment. It is also referred to as Pigovian tax which is a tax on goods with negative externality.
Hence, tradable permits when compared with pollution tax are likely to result in less inefficiency, when the marginal costs of damages are steep and the marginal costs of pollution reduction are relatively stable.
Answer:
It is true that raising gasoline prices (either by producing less of it, or by adding taxes) would reduce gasoline use. The concept of price elasticity of demand can helps us explain why.
Explanation:
A good can be either elastic or inelastic depending on its price elasticity of demand. A price elasticity of demand of less than 1 is considered inelastic, while a price elasticity of demand higher than 1 is considered elastic.
Elastic goods are those whose quantity demanded falls or rises more than the price. Inelastic goods are those whose quantity demanded falls or rises less than the price.
Gasoline is a inelastic good in the short-term because even with a price hike, most people will still buy gasoline because they need to move around. However, in the long-term, gasoline becomes more elastic because people replace their buy electric cars, or cars that use less fuel, etc.
What this tells us is that raising gasoline prices can reduce gasoline use in the long-term.
A built-in injustice in this measure is that it affects the poor disproportionally. Poor people also need cars to get around, and a rise in the gasoline price means that they have less money for other basic needs.
Answer:
b. deliver the goods to a particular destination.
Explanation:
Under the delivery contract when there is a contract between the buyers and sellers, the seller is obligated to deliver the good to a particular destination. After delivery to the destination the seller's obligation to the buyer ends.
So the contract between Timber Mills corporation and Ur-Choice Lumber yards, the supplier must deliver the goods to a predetermined location.
Answer:
The answer is stated below:
Explanation:
The accounting equation is as follows:
Assets = Liabilities + Stockholders' Equity
Analyzing the transactions:
1. The service is provided to customer on account, which result in increase in assets and the stockholders' equity
So,
Assets = Liabilities + Stockholders' equity
+ $4,000 = $0 + +$4,000
2. The equipment is purchased by signing a note, which result in increase in liability and also increase in the assets.
So,
Assets = Liabilities + Stockholders' equity
+ $10,500 = +$10,500 + $0
3. Paid for the advertising, which result in decrease in cash as well as decrease in the equity of the company.
So,
Assets = Liabilities + Stockholders' equity
- $1,200 = $0 + -$1,200
The type of accounting information intended to satisfy the needs of external users of accounting information is the Financial accounting.
<h3>Financial accounting</h3>
Financial accounting is the field of accounting concerned with the summary, and reporting of transactions related to a business.
In comparison with other fields, Managerial accounting includes accounting of cost, and intended for the use of internal users of the business.
Tax accounting is specifically intended for tax.
Therefore, it is financial accounting that is intended to satisfy needs of external users in a business.
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