What is the extra cost of fuel if gasoline costs is given

Assignment Help Microeconomics
Reference no: EM131505407

Question: The speed of your automobile has a huge effect on fuel consumption. Traveling at 65 miles per hour (mph) instead of 55 mph can consume almost 20% more fuel. As a general rule, for every mile per hour over 55, you lose 2% in fuel economy. For example, if your automobile gets 30 miles per gallon at 55 mph, the fuel consumption is 21 miles per gallon at 70 mph. If you take a 400-mile trip and your average speed is 80 mph rather than the posted speed limit of 70 mph, what is the extra cost of fuel if gasoline costs $4.00 per gallon? Your car gets 30 miles per gallon (mpg) at 60 mph.

Reference no: EM131505407

Questions Cloud

Evaluate accounting incs communication-plan development : Evaluate Accounting, Inc.'s communication-plan development. Does it answer all of the questions that a good communication plan should answer?
Determine the likelihood that a person will litter : Describe three key factors that help to determine the likelihood that a person will litter. Which of these factors is most likely to contribute.
Prepare a what not to do when testifying list : Prepare a What NOT to Do When Testifying list.You should NEVER commit perjury while testifying.
Population of the municipality : In your answer, be sure to discuss how this program would affect the population of the municipality.
What is the extra cost of fuel if gasoline costs is given : The speed of your automobile has a huge effect on fuel consumption. Traveling at 65 miles per hour (mph) instead of 55 mph can consume almost 20% more fuel.
Describe how copper is toxic to the environment : Describe how copper is toxic to the environment, and how this can affect the residents of an area (300 WORDS).
Explain organizational theories evidenced in the case : Explain organizational theories evidenced in the case. Analyze how Texas Health Harris Methodist-Cleburne is a learning organization.
What family influences shape gender identity : What are the consequences of reinforcing gender stereotypes in the classroom? What family influences shape gender identity
Develop the arguments of your group presentation : 21129 Managing People and Organisations - evaluate the theoretical foundations of the fields of management and organisational studies

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

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.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd