Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hello could you help me with this question. the policy is in bold The United Kingdom (UK) intends to ban the sale of all new

hello could you help me with this question. the policy is in bold

The United Kingdom (UK) intends to ban the sale of all new cars that use either petrol or diesel by 2030, allowing new hybrid vehicles until 2035. The intension is that only zero emission vehicles will be sold after 2035.

Explain, with the use of a relevant economics model (graph), the type of market failure that this policy seeks to address. Discuss andevaluatethis policy, and also include a discussion, using demand and supply diagrams, of related markets that would likely be effected. Your evaluation should include issues of effectiveness, cost, ease of administration and equity.

Whenevaluatingthe policy, consider issues such as the ease of implementation, cost of implementing the policy, effectiveness (the advantages and disadvantages; will it work?), equity concerns, other issues that impact the effectiveness of the policy. Are there other alternative policies that could be used to address this negative consumption externality, instead of a ban, that you think would be better? If so, include theory and evidence.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Bank Management

Authors: Timothy W Koch, Mark S Cracolice

7th Edition

1111804265, 9781111804268

More Books

Students also viewed these Economics questions

Question

Excel caculation on cascade mental health clinic

Answered: 1 week ago