List and discuss a situation where emissions standards would be preferable to either pollution taxes or a system of transferable permits?

Question # 2: Explain how an economist would determine the optimal level of a pollution tax. What is the major uncertainty in using a pollution tax? Question # 3: What are some particular problems with stock pollutants? Why might a reduction in emissions levels of a stock pollutant be insufficient in reducing the negative effects of the pollutant? Discussion Question # 4: Textbook, Chapter 16, page 405.