Consider the case of carbon dioxide being emitted into the atmosphere. Assume that a ton of CO, emitted decays at a very slow rate; assume only 1% of the stock in the atmosphere decays in any given year. Also assume that the marginal damage in dol- lars per ton of CO, in the atmosphere is $1 per ton per year regardless of the amount of CO, in the atmosphere. Using a discount rate of 3% per year, calculate the marginal damage caused by emitting 1 ton of CO,into the atmosphere. What CO, emission fee would you recommend to control this greenhouse gas problem?