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Suppose a community suffers from a pollution problem characterized by MAC=120 -4E and MD=2E. (a) What is the socially efficient level of emissions (E*)? (b)

Suppose a community suffers from a pollution problem characterized by MAC=120 -4E and MD=2E.

(a) What is thesocially efficient level of emissions(E*)?

(b) What are the amounts ofbenefitsandcostsassociated with thereduction of emission to E* (from Emax)?

[ Show work to justify your answers. Otherwise, you may not get any credit. Emax means the maximum level of emissions possible.]

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