Question

1) Renewable Resources Explain what the tragedy of the commons refers to and use a graph to illustrate why it happens.
2) Understanding the Economics of Acid Rain Explain why the government did “The Right Thing for The Wrong Reason” in the context of SO2 Allowance Trading.
3) Energy Paradox When looking at potential win-win actions that could reduce carbon dioxide, many analysts talk about the energy paradox or energy-efficiency gap interchangeably. Explain the distinction between the two concepts, and offer two explanations for why either happens.

Answer 1

1.