?One action that government could take to reduce carbon emissions into the atmosphere is
Chapter 4, Problem 111(choose chapter or problem)
One action that government could take to reduce carbon emissions into the atmosphere is to levy a tax on fossil fuel. This tax would be based on the amount of carbon dioxide emitted into the air when the fuel is burned. The cost-benefit equation
models the approximate relationship between a tax of x dollars per ton of carbon and the corresponding percent reduction P (in decimal form) of emissions of carbon dioxide. (Source: Nordhause, W., “To Slow or Not to Slow: The Economics of the Greenhouse Effect,” Yale University, New Haven, Connecticut.)
(a) Write P as a function of x.
(b) Graph P for 0 x
1000. Discuss the benefit of continuing to raise taxes on carbon.
(c) Determine P, to the nearest tenth, when x = $60. Interpret this result.
(d) What value of x will give a 50% reduction in carbon emissions?
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