(i) Explain the concept of the 'efficient level of pollution'. 2mks (ii) Evaluate the arguments for the use of market or incentive- based instruments versus 'command and control' instruments in the regulation of environmental externalities under conditions of certainty. 6mks (iii) Discuss the contention that contingent valuation is, in general, superior to all other techniques for valuing non- marketed goods or services as it is the only technique capable of incorporating non-use values as well as use values. 4mks (iv) Discuss the argument that poor people are the main victims of a bad environment. 3mks