User Account

All Pages

What will happen to the quantity of oil produced in period

Assignment Help Business Economics
Reference no: EM132461556

Question 1: Assuming there are no banks (i.e. that the interest rate is zero) How much oil would the supplier produce each period so that his combined returns for both periods is maximized? Hoe much scarcity rent does the producer make on the last barrel sold in each period? How would the producer define his user costs and total marginal costs for each period?

Question 2: Suppose that the total marginal cost of producing a barrel of oil is $10 in the first year and increases by $1 in each following year. If the price of oil stays at $20 per barrel, for how many years will oil be produced? If the price of oil drops to $18 per barrel, what will happen to the quantity of oil produced in each period?

Reference no: EM132461556

Questions Cloud

What will be Tangerine depreciation expense : Tangerine decided to change to the straight-line method. Ignoring income taxes, what will be Tangerine's depreciation expense for 2021
How much can Kyle deduct for AGI this year : Kyle is 31 years old, single, self-employed, and has no qualified pension plan. How much can Kyle deduct for AGI this year
What amount should Popeye record as depreciation expense : Popeye Company purchased a machine for $320,000 on January 1, 2020. What amount should Popeye record as depreciation expense for 2021? The tax rate is 25%
State the consumer maximization problem : State the consumer's maximization problem and use this problem to derive his demand functions for the two goods.
What will happen to the quantity of oil produced in period : If the price of oil drops to $18 per barrel, what will happen to the quantity of oil produced in each period?
Discuss and choose one of the four chinese dynasties : Discuss and Choose one of the four Chinese dynasties(Qin, Han, Tang, or Song) that is considered as very important in the Chinese history
Calculate cash flow from financing : Problem - Dividend paid in 2009 to investors is $200. Required - Calculate cash flow from financing
What are the national income statistics : National income statistics, such as the GDP, and are often talked about in the media when discussing the national economy.
Most critical for economic growth : Which supply and demand factor, in your opinion, is the most critical for economic growth? Explain.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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