Reference no: EM131239541
The Organization of the Petroleum Exporting Countries (OPEC) is a permanent inter governmental organization, currently consisting of 12 oil producing and exporting countries, spread across America, Asia and Africa. OPEC Countries produce about 40% of the world's crude oil. The Oil and Energy Ministers of the OPEC Member Countries meet at least twice a year to coordinate their oil production policies.
Suppose that at its next meeting, OPEC decides to cut crude oil production by 10%. How will this affect world oil prices? Assume that no other nation increases its oil production during the time frame being considered. (In your calculations use the conventional formula for percentage changes, rather than the midpoint formula.)
The reduction of OPEC oil production by 10% will decrease world oil supply by:
Suppose that the price elasticity of demand for oil is estimated at 0.2. This means that the decrease in world production of oil will raise oil prices by:
Please answer with 1 digit after the decimal point and in percent
Suppose the current price of oil is $70 per barrel. You forecast that the new price of oil resulting from the OPEC's decision to cut production will be:
Please enter 2 digits after the decimal point.
|
Is the pareto efficiency satisfied at the price ceiling
: Suppose the government imposes a price ceiling for rental apartment s at 70% of the current market price. What is a main reason for this type of price control? Is the Pareto efficiency satisfied at the price ceiling? Explain.
|
|
Design a greedy algorithm for coloring vertices of a graph
: Your algorithm addresses the edges in some order. Try it out on the graph in Figure 13.14. In fact, try your algorithm with each of the edge orderings given in Figure 13.14. Does your algorithm give the optimal coloring in each case?
|
|
Explain two alternatives that give more accuracy
: Use the duration model to estimate the 20-day 90% VaR for the portfolio. Explain carefully the weaknesses of this approach to calculating VaR. Explain two alternatives that give more accuracy.
|
|
Cacluate the flow rate of liquid to the waste lagoon
: Without assuming a basis of calculation, draw and label a flowchart for the process. Cacluate the flow rate of liquid to the waste lagoon, and the mass fraction of chromium in the liquid over the given range.
|
|
Permanent inter governmental organization
: The Organization of the Petroleum Exporting Countries (OPEC) is a permanent inter governmental organization, currently consisting of 12 oil producing and exporting countries, spread across America, Asia and Africa. OPEC Countries produce about 40%..
|
|
Is there a bubble on stock
: A stock is expected to pay an annual dividend of $4 each year into indefinite future. Rates of return on equally risky assets are 5%. Stock price=$100. Is there a bubble on this stock? How do you know? How big is bubble?
|
|
What is the composition of the final product stream
: It is desired to produce 70 mol of methyl acetate starting with 75 mol of methanol. If the reaction proceeds to equilibrium, how much acetic acid must be fed? What is the composition of the final product stream.
|
|
Create a 4-regular planar graph and properly edge-color it
: Recall that a matching in G is a sub graph with all vertices of degree 1 and that a perfect matching is a sub graph with all vertices of degree 1 that includes all vertices of G.
|
|
Summarize significance of this event to our global economy
: Research the fall of the Berlin Wall. In 1-2 pages, briefly summarize the significance of this event to our global economy. Remember to cite your sources using proper APA notation.
|