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Find a market price for hydrogen gas and normalize the energy content compared to the current local price of gasoline. Using octane as an approximation for gasoline energy content, compare the cost per kilojoule of energy of hydrogen to gasoline. What cost per gallon of gasoline do you think must be reached before the hydrogen fuel source is economically competitive?
Differentiate between the resource market and producer market in a circular flow model. Determine the way that businesses and households both sellers and buyers in this model also find the flows in the circular flow model?
by Richard Easterlin, the level of per capita income achieved in the South after the Civil War remained considerably below that in the rest of the nation as late as 1930. Evaluate the hypotheses that have been suggested to explain the poor econo..
Discuss how inflation affects the rate of return required on the investment project, and the distinction between a real and a nominal (or‘money terms') approach to the evaluation of the investment project under inflation.
What do we mean when we refer to basic economic difficulties of what to manufacture, how to manufacture, and for whom to manufacture?
Write down the Lagrangean function associated with this problem and derive the first-order conditions for this problem.
Recent health reports indicate that calcium is asorbed better in natural forms as milk, and at the same time, the cost of milking equipment rises. Examine the probable effects on the market.
Use demand and supply analysis to illustrate the changes in chicken prices described in the article. Describe what has happened in the corn and soybean-meal markets and how that has influenced the chicken market.
Questions: : Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month? Explain your choice.
The irony is that those who are aware of the Pareto principle, do not use it as often as they should in making decisions. Name at least a dozen ways to apply the Pareto principle (the 80/20 rule) that have not been thought of regarding decision-ma..
Beer and pizza are complements because they are often enjoyed together. When the price of beer rises, what happens to the supply, demand, quantity supplied, quantity demanded, and the price in the market for pizza.
Calculate the elasticity of demand for good X with respect to advertising on good X. Interpret your answer. Can you tell whether the firm is spending too much or too little on advertising?
The queue length and waiting time for clients including and excluding the service time and the probability that there will be more than 2 customers waiting
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