need help with this problem

need help with this problem

Knox county wants to reduce CO2 emissions by 1,569,000 tons per year (approximately a 30% reduction). They are looking at alternative approaches to achieving this goal, and are interested in comparing the costs of command-and-control to the least-cost solution to achieving this abatement level. a. Command-and-control: Each plant must reduce their annual CO2 emissions by 30%. Please complete the following table. (20 points ) Problem 2 The state of Tennessee has decided to hire you to be the chief policy analyst for their new carbon dioxide (CO2) abatement program. As a test case, Tennessee has decided to pursue regulatory approaches to controlling CO2 in Knox County, where CO2 emissions primarily come from local electricity generation. There are three power plants in Knox County, and each has submitted their estimated abatement costs for CO2. Plant 2: Gas Plant releasing 90.000 tons of CO /vear Problem 2 The state of Tennessee has decided to hire you to be the chief policy analyst for their new carbon dioxide (CO2) abatement program. As a test case, Tennessee has decided to pursue regulatory approaches to controlling CO2 in K nox County, where CO2 emissions primarily come from local electricity generation. There are three power plants in Knox County, and each has submitted their estimated abatement costs for CO2. Plant 2. Cae Plant releasing 90.000 tons of CO/ vear Knox county wants to reduce CO2 emissions by 1,569,000 tons per year (approximately a 30% reduction). They are looking at alternative approaches to achieving this goal, and are interested in comparing the costs of command-and-control to the least-cost solution to achieving this abatement level. a. Command-and-control: Each plant must reduce their annual CO2 emissions by 30%. Please complete the following table. (20 points) b. Least-Cost solution: What is the least cost at which the 30% abatement level could be achieved? Complete the following table to indicate how much each plant would abate and the costs of this abatement using least-cost methods. (20 points) c. Deseribe who would buy and would sell permits in order to get from an initial Command and Control (i.e. problem 3a ) allocation of pollution permits (or allowances) to the least cost outcome ( 20 points)