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In the Columbia Gas of Ohio study that forecasted the demand for gas, the compnay developed the following coefficients for their equaion:
Growth rate .015
Intercept 1376.0
Forecasted temperature -17.1
Prior day temperature -3.7
Forecasted wind speed 4.2
Forecast the demand for gas for a day, when the expected average temperature will be 40 degrees, the prior day's average temperature was 37, and the average wind speed is predicted to be 8 miles per hour.
Sam has preferences for consumption goods (C) and time spent on leisure (L). The utility function is u(C,L) = CL. The household also has a home production technology summarized by a production function. How much time will Sam spend in leisure? How ma..
Draw the budget line on the Edgeworth box through the endowment point. What is the equilibrium allocation?
A monopsony faces a supply curve of p=10+Q. What is its marginal expenditure curve? If the monopsony has a demand curve of p=50-Q, what are the equilibrium quantity and price? How does this equilibrium differ from the competitive equilibrium?
How does an outflow of FDI benefit a home country? Take the case of an outflow of FDI/MNCs from the US and explain at least four benefits that the US expects from its overseas investments/investors.
A farmer’s field grows 30 bushels of corn and 10 bushels of beans. The farmer can either consume these crops herself or trade them, with one bushel of beans being traded for one bushel of corn. Graph the farmer’s budget which is the possible combinat..
Arguments in favor of active economic policy include all of the following except:
Which of the following are valid arguments for tariff protection?
Assume the total value of paper to society ( measuring willingness to pay) is given by the expression. Additionally there are pollution damage costs for which the external cost can be described as.
Erika and Kitty, who are twins, just received $20,000 each for their 27th birthdays. They both have aspirations to become millionaires. Each plans to make a $5,000 annual contribution to her "early retirement fund" on her birthday, beginning a year f..
___does not count in GDP numbers until the final product is sold. This is used to change variables from nominal to real: This gov. policy is part of the collection of policies deemed "shock absorbers." This particular policy is used for those recentl..
Acme's primary raw material is PVC sheet that is produced by three major vendors within the United States. Acme, a small consumer products manufacturer, is consolidating down to a single vendor. Continued growth by this vendor assures Acme that it..
Using the figure consumption to disposable income ($1100), explain how and in what direction an increase in consumption would change the interest rate in the consumption theory?
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