23 After you have studied Economics in the News on pp. 382–383, answer the following questions.

a How do the marginal private cost and marginal private benefit of electricity change when renewables replace non-renewables to generate it?

b How do the marginal external cost and marginal external benefit of electricity change when renewables replace non-renewables to generate it?

c How will the UK government’s plan for power utilities to switch from non-renewables to renewables change the price that households pay for electricity?

d How will the UK government’s plan for utilities to switch from non-renewables to renewables change the efficiency of electricity production?