Use Jesse's short-run elasticity estimate (-0.14) to make these calculations. How do estimated impacts on GHG emissions change as compared to the long-run case in column (1)? b. The EPA is proposing to increase the social cost of carbon to $190/ton. Suppose a carbon tax commensurate with this SCC was imposed on the electricity sector such that retail prices increased to reflect this social cost. Complete columns (3) and (4) using Jesse's long run elasticity estimates for high income (-1.02) and low income (-2.25) households, respectively to replicate these calculations