Engineering
Suppose that the external costs of pollution emissions differed across firms. In
particular, assume that
SMC1= $2,200
SMC2= $2,200
SMC3= $2,900
SMC4= $3,600
SMC5= $4,300
SMC6= $4,300
SMC7= $2,500
SMC8= $2,000
Determine whether the permit trading program as it turned out in class was a good idea or
not from a social point of view, relative to the no-trading status quo where every firm got
E = 1650. Explain why or why not.
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