FOR WIZARD KIM (Microeconomics)

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Due May 21 by 9 p.m. eastern standard time. No plagarism and thanks.

Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope, like pollution. These are called externalities.

Assume that you are a policy maker concerned with correcting the effects of gases and particulates emitted by a local power plant. Write a 1-page memo that addresses the following points:

Select 1 of the following policies from the following list that you think would best reduce emissions: Pigouvian taxes, emission taxes, or cap and trade. Explain it.
Why do you think your policy would work in reducing the total amount of emissions?
In your answer, explain the costs and the benefits of the production and consumption of the good, as well as the negative externality.
How would you decide what the best or optimal level of emission reduction would be?

Format your answers as a memo with 1 page of written content. You may use bullet points, but please cite your sources. Include a reference list.

Please submit your assignment.

This assignment will also be assessed using additional criteria provided here.

Your assignment will be graded in accordance with the following criteria. Click here to view the grading rubric.

Individual Project Rubric:

Grading Criteria	Percentage
Deliverable requirements addressed; understanding of material and writer's message and intent are clear	40%
Calculation methods, where required, are contextually appropriate, fully explained, and presented in a manner that is easy to understand.	10%
External research incorporated in the paper, if any, supports the writer's position properly acknowledged and cited direct quotations may not exceed 10% of the word count of the body of the assignment deliverable (excluded title page, abstract or table of contents if used, tables, exhibits, appendices, and reference page(s). Inclusion of plagiarized content will not be tolerated and may result in adverse academic consequences.	5%
Critical thinking: position is well justified; logical flow; examples provided where appropriate	20%
Structure: includes introduction and conclusion; proper paragraph format and reads as a polished, academic paper or professional presentation, as appropriate for the required assignment deliverable	10%
Mechanical - no spelling, grammatical or punctuation errors	10%
APA - deliverable is cited properly according to the APA Publication Manual (6th Ed.)	5%