4. Marginal Abatement Costs: The \"Technology Options\" Approach (8p) Perfluorocarbons (PFCs), mostly generated in the production of aluminum, are a potent greenhouse gas with 5,000 to 70,000 times the global warming power of CO:. An engineering analysis of the costs of abating PFC emissions in the aluminum industry identified and costed out nine separate technology options and their associated potential to reduce emissions: Techrisisay0pkian Total Cost of Potential PFCs Option (millien ) Abated (MTCE) A BAT-PB / Improved control 6.6 0.2 B CWPB / Conversion to BAT-PB 271.4 4.6 C CWPB/ Moderate retrofit 35.7 2.1 D SWPB/ Conversion to BAT-PB 174.8 4.6 E SWPB/ Moderate retrofit 8.8 14 F WSS/ Conversion to BAT-PB 1350 7.5 G VS5 / Moderate retrofit 33.6 2.1 H HSS/ Conversion to BAT-PB 719.6 1.4 | HSS/ Moderate retrofit 18.9 0.7 a) Use these data to construct a marginal abatement cost (MAC) curve for PFC emissions, where PFCs are measured in millions of tons of CO, equivalents (MTCE). Be sure to label each segment of the chart, identifying the option to which that segment corresponds. Hint: don't forget that MAC curves show the relationship between abatement and marginal costs {i.e., averages per technology). Hint: Unfortunately, drawing columns/segments with unequal widths is not a standard feature in Excel. In fact, there doesn't seem to be a "best\" solution. Feel free to choose among the following options to plot your computed values (with increasing degree of technological sophistication) Hand in a very neatly hand-drawn graph (make sure to correctly include scales for each axis). Excel: Use the scatter plat function to draw the right upper corners of each column, print out the graph, and draw the lines and labels yourself {probably the fastest method). Excel: Follow this tutorial to draw a graph with columns of variable width. Excel: Follow this tutorial to draw a graph based on a large Excel table in which each row stands for a fixed abated guantity. Use a resolution of 0.1 MTCE. This will require several hundred rows, but you can just copy & paste the majority of them. Import your data into R and follow this tutorial. b) Suppose that global emissions of PFCs are 26 MT, and the Intergovernmental Panel on Climate Change estimates that half this amount should be reduced by abatement in the aluminum industry. What is the implicit price per ton of carbon equivalents? What will be the total cost to the industry