BRILLIANT TUTORS
ECS2606
Assignment1
DUE 15 August
2024
[Year]
[Type the company address]
, Book
Environmental Economics
ECS2606 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 - DUE
15 August 2024 ; 100% TRUSTED Complete, trusted solutions and
explanations.
1. Discuss and diagrammatically illustrate the fundamental balance
principle. [10] Read the excerpt below and answer the question that
follows: Africa has made significant strides in the growth of its solar
energy industry in recent years, with the continent seeing an increase of
over 1.8W in new solar installations, primarily led by Egypt, South
Africa, Kenya, Namibia, and Ghana. In order to simultaneously speed up
energy access and support sustainable economic growth, Africa’s
renewable energy mix has increasingly switched away from
conventional hydropower and thermal facilities to renewable
alternatives.
Fundamental Balance Standard
The fundamental harmony standard in environmental monetary issues implies
the harmony between regular quality and financial activities. It highlights the
need to change the benefits got from monetary activities, similar to creation
and use, with the costs related with biological corruption. Achieving this
harmony is significant for sensible new development, where financial
improvement doesn't come to the drawback of environmental prosperity.
Key Parts:
1. Economic Activities:
o Production and usage of work and items, which habitually lead to
regular externalities, similar to tainting and resource depletion.
2. Environmental Quality:
o The state of the normal territory, including air, water, soil, and
biodiversity. Staying aware of high regular quality is central for general
prosperity and climate practicality.
3. Marginal Benefits and Costs:
, o Marginal Benefit (MB): The additional benefit got from consuming or
making one more unit of a fair or organization. In this particular situation, it
might be the monetary benefits from extended creation or energy age.
o Marginal Cost (MC): The additional cost caused from conveying or
consuming one more unit of a good or organization, including the external
costs of environmental degradation.
Diagrammatic Portrayal:
The fundamental harmony rule can be addressed using a chart that shows the
association between negligible benefits and fringe costs.
Chart Game plan:
• X-turn: Measure of financial activity or normal quality.
• Y-turn: Fringe benefit and minor cost.
Twists:
1. Marginal Benefit Twist (MB): Sliding inclining, as the additional benefit
from monetary activities lessens with extended development.
2. Marginal Cost Twist (MC): Up inclining, as the regular cost of extra
financial activities increases.
Balance Point:
• The ideal point is where the MB twist crosses the MC twist. At the
present time, the insignificant benefit of financial activity ascends to the fringe
cost of regular corruption. This balance extends net social government help,
as any development in money related activity beyond this point would achieve
more unmistakable costs than benefits.
Application to Africa's Supportable power Headway
Concerning Africa's creating sun fueled energy industry, the key harmony
standard can be applied to the shift from customary energy sources to
manageable different choices. The section includes Africa's extended focus
on daylight based energy as a method for overhauling energy access and
sponsorship possible money related improvement. The advancement from
