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How did lobbyists from the energy industry ensure every Texan's utility bill will be more expensive for decades to come in 2021? They induced legislators to remove all subsidies from electricity in Texas, forcing power companies to raise rates on customers. They convinced legislators to allow the Public Utility Commission to pass along power plant winterization costs to consumers. They procured an exemption from legislators to allow them to hire expensive out-of-state workers and pass the costs on to their customers. They persuaded legislators to regulate the electricity in markets in Texas tightly, which has led to increased energy bills for consumers.
In the argument for why perfect competition is allocative efficient, the price that people are willing to pay represents the gains to society and the marginal.
Some seed cleaning equipment was purchased at the end of 2008 for $8,571 and is depreciated by the double declining balance (DDB) method (not MACRS) for an expected life of 8 years. What is the book value of the equipment at the end of year 2,011? Or..
Suppose that there are 20,000 hours of labor available in country A, and that 5 hours of labor are required to produce one unit of S, while 4 hours are required to produce one unit of T. Draw A's PPF and find its slope. What is the relative price of ..
Suppose the weekly demand for garden benches is Qd = D(P ) = 450 − 2P. What price must they charge if they want to sell 100 benches per week? What price must they charge if they want to sell 150 benches per week? What is Noah and Naomi’s inverse dema..
Suppose we find out that a large number of individuals with advanced degrees in medicine were unable to find a job in the medical profession and are instead working at McDonald's flipping hamburgers. How would this be shown on a society's PPF graph?
Suppose that Italy and Sweden both produce jeans and stained glass. Italy's opportunity cost of producing a pane of stained glass is 4 pairs of jeans while Sweden's opportunity cost of producing a pane of stained glass is 10 pairs of jeans.
Janie deposits $10,000 in the bank today. Starting 3 years from now, she makes equal withdrawals of $1,00 for 5 years and then withdraws the remaining amount 10 years from now. How much will she be able to withdraw 10 years from now, assuming the ban..
How reliable is the Internet as a source of information for your research? What are the ways you can validate information that you find on the Internet? Why is this necessary? Use examples from the Information Literacy module you reviewed this week.
Use a supply and demand diagram to show how that response will change the combined amount of consumer surplus and producer surplus in the market for cashews. Given the initial equilibrium price P1 and quantity Q1, use the shader tool provided 'Initia..
The average 50 year old worker is paid several times more than workers in the teens and 20's. Older workers have more human capital and higher MRP's Employers engage in widespread discrimination against younger workers Young people lack information a..
At the end of each quarter, the manager receives a bonus equal to a percentage of the sales revenue generated.
Suppose a DM operates according to the model of search and satisficing we discussed in class. Let us assume that they view the distribution of alternatives' val
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