Superb Wines Finance Assingment Help With Solution

Suppose that two firms emit a certain pollutant. The marginal cost of reducing pollution for each firm is as follows: MCi = 300e1 and MC2 = 100e2, where el and e2 are the amounts tons) of emissions reduced by the first and sec-ond firms, respectively. Assume that in the absence of government intervention, Finn 1 generates 100 units of emissions and Firm 2 generates 80 units of emissions.

a. Suppose regulators decide to reduce total pollution by 40 units. hi order to be cost effective, how much should each firm cut its pollution?

b. What emissions fee should be imposed to achieve the cost-effective outcome? How much would each firm pay in taxes?

c. Suppose that instead of an emissions fee, the regulatory agency introduces a tradable permit system and issues 140 permits, each of which allows the emission of one ton of pollution. Firm 1 uses it political influence to convince the regulatory agency to issue 100 permits to itself and only 40 permits to Firm 2. How many, if any, permits are traded between the firms? What is the minimum amount of money that must be paid (total) for these permits? By how many tons does each from end up reducing its pollution?

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The Finger Lakes region of New York State attracts tourists who wish to sample its superb wines. In recent years, hog-raising farms—some with more than a thousand hogs—have taken root in the region. The smells emanating from the massive amounts of pig manure adversely affect the tourism. ''Nine and swine, in other words, do not mix” [Chen, 2001, p. LI]. Imagine that the Little Pigs (LP) hog farm is situated near the Tipsy vineyard. The following table shows, for each level of LP's output, the marginal cost of a hog, the marginal benefit to LP, and the marginal damage done to Tipsy:

a. How many hogs does LP produce?

b. What is the efficient number of hogs?

c. The owner of LP gets tired of Tipsy's complaints about her hog farm, and she buys out Tipsy. After the merger, how many hogs does LP produce?

d. How does the merger affect the sum of the profits earned by LP and Tipsy?

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