What are emission permits.? Illustrte with graph.? Make short note on international treaty in context of the

What are emission permits.? Illustrte with graph.? Make short note on international treaty in context of the

environment?

higher? (3) What are emissions permits?Illustrate with a graph.a. If permits remain the same, what happens to price when an industrialslow downhappens and the Aggregate MAC curve shifts upwards? b. What is tax interactioneffect? c. How do you implement permits when there are non-uniformly mixedpollutants? (4) Write a short note (and your opinion) on international treatyormation in context of theenvironment. What research could help in aiding thisprocess?