Reference no: EM13854712
1. Discuss the pros and cons of the two “advanced” forms of estimating energy demand. What do they excel at and where are they lacking? How might policy changes be built into the models?
2. Assume the following two equations for the extraction of a natural resource:
A)P = 18 – 0.5 Q for Marginal Willingness to Pay
B)P = 4 for a constant Marginal Cost of Extraction
Solve for the following in a two time period setting:
1) Find and label the equilibrium when there is no limit on Q.
2) Assume that there are only 20 units of the natural resource to be extracted, and I tell you the optimal extraction rates at time period 1 and time period two are 10.1 and 9.9 respectively. Solve for the discount rate.
3) Show graphically or in terms of total benefits that the optimized extraction rates maximize total benefits.
3. Discuss the cost features of renewable energies in the supply electricity. What are some of the harder costs that are more difficult to capture. What aspects of renewable electricity supply are more expensive than traditional fossil fuels? Where are they cheaper?
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Quantity supplied of labor for male high school graduates
: He wage elasticity of labor supply for men aged 18-25 is measured to be 0.3. Within this group, the average weekly wage of the high-school graduates is 2/3 the amount of college graduates. If male college graduates offer 45 hours of work per week, wh..
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Conducting a sociolinguistic field interview
: Write the results of your interview in the form of an essay. Do not do a question and answer format--that is your transcript, which will be a word-for-word record of the interview in standard orthography and which will be appended to your essay.
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How many employees do you typically manage at one time
: How many employees/people do you typically manage at one time?
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Original idea for social networking
: Who do you think should be known as theone who came up with the original idea for social networking? Which ismore important: the idea or the execution of the idea? Please explain.
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Discuss the pros and cons of the two advanced forms
: Discuss the pros and cons of the two “advanced” forms of estimating energy demand. What do they excel at and where are they lacking? How might policy changes be built into the models? Discuss the cost features of renewable energies in the supply elec..
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Long-run labor demand and factor substitutability
: Long-Run Labor Demand and Factor Substitutability. Draw the isoquant that corresponds to that level of production where L on horizontal axis and K on the vertical axis. Is this isoquant convex (bowed toward the origin) ? By looking at your graph, de..
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What is present value of given unusual cash-flow pattern
: The first cash flow is two years from now. At a 10 percent compound annual interest rate, what is the present value of this unusual cash-flow pattern?
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Show how the lottery winning affect your budget line
: Show how the lottery winning affect your budget line. After winning the lottery you continue to work the same amount of hours every day. What is the income effect of the lottery gain? Now your employer increases your hourly wage. Using the income eff..
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About the relative factor abundance of the two countries
: Suppose that each unit of product A requires 4 workers and 1 unit of capital to produce, whereas each unit of product B requires 5 units of capital and 2 workers and that it is the case irrespective of prices (no factor substitution). What does this ..
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