You are a consultant working for the hypothetical consultancy 'Environmental Policy Solutions Inc.' There are currently no projects for you to work on so instead the Director has asked you to research a particular environmental externality to further develop the company's expertise. The task is to choose an environmental externality such as air or water pollution, litter or agricultural runoff. This issue can be sourced from newspapers, or other media, it can be local to Victoria, or Australia, or even international. The objective is to evaluate your chosen policy to manage this environmental externality based on economic principles