Table 1. Notations and explanations used...

Table 1.

Notations and explanations used in this paper

Notations	Explanations
Q	Steel production
P	The steel’s price
α	The constant of the market inverse demand curve
β	The primary coefficient of the market inverse demand curve
q_i	Steel production of region i
e₂₀₁₅,_i	CO₂ emission intensity per ton steel of region i in 2015
e_i	CO₂ emission intensity per ton steel of region i at some stage
r_i	The decline range of CO₂ emission intensity per ton steel in region i
R	The decline target of national CO₂ emission intensity per ton steel
MAC	MAC curve in iron and steel industry
a_i	The quadratic coefficient of the steel industry’s MAC in region i
b_i	The primary coefficient of the steel industry’s MAC in region i
C_i	The cost function of the steel industry in region i
C_0,_i	The production cost of the steel industry in region i
c_i	The cost of base period emission reduction in region i
e₀	Carbon emission benchmarks in carbon trading mechanism
T	The total carbon tax
t	The unit value of carbon tax
PP	Purchase price of carbon quota
SP	Selling price of carbon quota
CQ_i	Carbon quota of region i
W	Social welfare function
CS	Consumer surplus
PS	Producer surplus
D(E)	Total macro external environment loss of CO₂ emission
θ	The external loss parameter of CO₂
η	The production subsidies
m	The CO₂ emission reduced by the CCS demonstration project
A	The primary coefficient of the CCS demonstration project cost curve
B	The constant of the CCS demonstration project cost curve
π_i	The profit function of the steel industry in region i
E	The total CO₂ emissions in the iron and steel industry
S	The total subsidy
M	The total cost of the CCS demonstration project

Notations	Explanations
Q	Steel production
P	The steel’s price
α	The constant of the market inverse demand curve
β	The primary coefficient of the market inverse demand curve
q_i	Steel production of region i
e₂₀₁₅,_i	CO₂ emission intensity per ton steel of region i in 2015
e_i	CO₂ emission intensity per ton steel of region i at some stage
r_i	The decline range of CO₂ emission intensity per ton steel in region i
R	The decline target of national CO₂ emission intensity per ton steel
MAC	MAC curve in iron and steel industry
a_i	The quadratic coefficient of the steel industry’s MAC in region i
b_i	The primary coefficient of the steel industry’s MAC in region i
C_i	The cost function of the steel industry in region i
C_0,_i	The production cost of the steel industry in region i
c_i	The cost of base period emission reduction in region i
e₀	Carbon emission benchmarks in carbon trading mechanism
T	The total carbon tax
t	The unit value of carbon tax
PP	Purchase price of carbon quota
SP	Selling price of carbon quota
CQ_i	Carbon quota of region i
W	Social welfare function
CS	Consumer surplus
PS	Producer surplus
D(E)	Total macro external environment loss of CO₂ emission
θ	The external loss parameter of CO₂
η	The production subsidies
m	The CO₂ emission reduced by the CCS demonstration project
A	The primary coefficient of the CCS demonstration project cost curve
B	The constant of the CCS demonstration project cost curve
π_i	The profit function of the steel industry in region i
E	The total CO₂ emissions in the iron and steel industry
S	The total subsidy
M	The total cost of the CCS demonstration project

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