Question
The cost-benefit equation
T=-0.623-194 In (1-p)
describes the approximate tax T, in dollars per ton, that would result in a p% (in decimal form) reduction in carbon dioxide emissions. What tax will reduce emissions 70%?
T=-0.623-194 In (1-p)
describes the approximate tax T, in dollars per ton, that would result in a p% (in decimal form) reduction in carbon dioxide emissions. What tax will reduce emissions 70%?
Answers
Steve
well, just plug it in.
-0.623-194 ln (1-0.70) = 232.95
-0.623-194 ln (1-0.70) = 232.95