Answer to Question #157020 in Economics for Kiera

Question

1. As the influence of the carbon taxes spread out through the economy, 

How will our local power company, the Board of Water and Light, change the land resources it uses as the source of power generation? (3)

Take a look at the BWL’s website (<span style="font-size: 11pt; font-family: &quot;Times New Roman&quot;; color: rgb(17, 85, 204); font-variant-ligatures: normal; font-variant-east-asian: normal; font-variant-position: normal; text-decoration: underline; text-decoration-skip: none; vertical-align: baseline; white-space: pre-wrap;">https://www.lbwl.com/about-bwl/renewable-energy</span>) if you want to see their current plans.

Answer 1

Solving economic problems requires a total approach and the implementation of such rules as:

Accuracy. All calculations must be as accurate as possible (errors are minimized), otherwise all the recommendations of the author will not be effective and suitable for implementation;

Measurability. All data must have a specific unit of measurement. Moreover, for comparison, all indicators should have the same measurement value.

Limitation. When implementing economic tasks, it is important to clarify the current boundaries: goal, subject of research, time period, performance standards, etc.

Sequence. Solving economic problems involves following specific formulas, standards, methods, as well as a total analysis of the results obtained.