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1. Which countries consume the most dung and how do the energy statistics in the BP Statistical Review account for it?
2. Explain why consumption of a particular energy source typically ceases long before the stock of supply is exhausted.
3. Factor demands can be derived from firm profit maximization or from cost minimization at the profit-maximizing level of output. How do these factor demands differ?
4. Cost equations are often used to obtain factor demands. How can factor demands be obtained from a cost equation? Why would one obtain factor demands this way instead of obtaining them from the profit maximization problem directly?
5. Provide a simple example of a single-equation single-fuel demand equation that you could estimate using linear regression?
6. Why estimate energy demand models? What sorts of questions can be addressed by using estimates of a demand model?
Compute the velocity for the two countries in 1985. Explain why do you think the velocity was so much higher in Brazil.
If the government imposes a quantity tax on the consumption of a good, it means that the consumer has to pay for each unit of the good its price plus the tax.
In doing so, be sure to define and explain what Americans understood to be meant by "the middle class." Why was it almost impossible for landless farmers to achieve middle class status?
1. A firm in a perfectly competitive market that is in long run equilibrium is contemplating raising the price of its good so that it can make positive economic profits. Which of the following statements is correct?
In a traditional monopoly, all or most sales are in a market are undertaken one company. In a natural monopoly, the cost-technology of an industry where is is most cost efficient to be run by one company and a good example of this would be public ..
Discuss the long term strengths and weaknesses of the macroeconomy of Nigeria - Analyze the trade position of Nigeria and discuss the country''s comparative advantage.
Please answer each of the questions below in short-answer format. Write your responses in complete sentences. Your answers to each question should include 2-3 paragraphs (125-250 words). 1. What shape did the short-run aggregate supply curve have ..
What is inflation? What are the causes of inflation? Is inflation desirable and what can be done to control inflation in a market economy?
Proponents of free market systems argue that free enterprise leads to more efficient production and better response to changing consumer preferences. Others point to the fact that markets are not perfect.
What are the functions of the 12 Federal Reserve District Banks, which serve as "bankers' banks". List the tools used by the Federal Reserve to conduct monetary policy. How are the monetary tools used to stimulate the economy when unemployment is hig..
The demand for a product can change due to manyfactors. Distinguish between a change in demand and a change inquantity demanded. What are the determinants of demand What arethe determinants of supply
Price discrimination sounds like a socially "bad" thing. Can you think of any reasons why price discrimination could be viewed as a socially "good" thing?
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