Why is energy efficiency same thing as economic efficiency

Assignment Help Microeconomics
Reference no: EM13237568

Engineers at a national research laboratory built a prototype automobile that could be driven 180 miles on a single gallon of gasoline. They estimated that in mass production the car would cost $40,000 per unit to build. The engineers argued that Congress should force U.S. automakers to build this energy-efficient car. In your opinion, is energy efficiency the same thing as economic efficiency?

Reference no: EM13237568

Questions Cloud

Explain what are the potential secondary effects : A.Based on the National Accounts, what policies would you implement to eliminate a NX
How do you think our litigious culture : How do you think our litigious culture has most affected the way student affairs professionals work?
What is the boats speed : A sudden gust of wind gives the boat an acceleration a, What is the boat's speed 6.4s later when the gust subsides
German nazism and stalin’s soviet communism : Compare and contrast German Nazism and Stalin’s Soviet Communism (Stalinism). What were the similarities and differences between these two political ideologies?
Why is energy efficiency same thing as economic efficiency : Engineers at a national research laboratory built a prototype automobile that could be driven 180 miles on a single gallon of gasoline. They estimated that in mass production the car would cost $40,000 per unit to build.
Explain briefly the shape of mc in the industry : In general, the marginal cost curve is U-shaped as you learned in lectures and the textbook. However, exception exists. Please provide one particular industry as an example to illustrate that MC is not U-shaped.
How far should you go to reach the treasure : The treasure map in the figure gives the following directions to the buried treasure, Which direction should you go to reach the treasure and How far should you go to reach the treasure
Find how much more does reserve bank create : Assume that the reserve requirement is 5%. All other things equal, will the money supply expand more if the Federal Reserve busy $2,000 worth of bonds or if someone deposits in a bank $2,000 that he had been hiding in his cookie jar
Cryos-darious contribute to government of persian empire : What did Cryos and Darious contribute to the government of the persian empire when they reigned?

Reviews

Write a Review

Microeconomics Questions & Answers

  By how much would government spending need to change

An economy is operating with output $400 billion below its natural rate, and fiscal policy-makers want to close this recessionary gap. The central bank agrees to adjust the money supply to hold the interest rate constant, so there is no crowding o..

  Cost function-average fixed cost-variable cost function

You appoint an intern from Southern University to help you examine your production process, and she uses your historical cost records to estimate that your total cost function is C(Q) = 100 + 2Q + 3Q2.

  Maximizing total production function

Suppose that raw materials (input R) are fixed at 10 units. Determine the number of units of input L that maximizes the total product function.

  Compute the consumer surplus

What is equilibrium price?What is the equilibrium quantity(Q)? Compute the consumer surplus a=384 b=296 c=0 d=112 e=-112 f= none of the above Compute the Consumer Surplus?

  What strategic industrial or trade policy would be required

Explain why the payoff matrix in Problem 1 indicates that firms A and B face the prisoners' dilemma Why The optimal strategy for firm A and firm B in problem 1(c) is to adopt its dominant strategy of charging a low price.

  Develop policy position on price floors

While referring to the "EYE on YOUR LIFE" section on page 183 of the textbook, apply this concept to your life. Develop your own policy position on price floors and price ceilings.

  Information about cost analysis

Airway Express has an evening flight from Los Angeles to New York with an average of 80 passengers and a return flight the next afternoon with an average of 50 passengers.

  Analysis of taxation

Examine of taxation is complex and the issues you should address when looking at taxes are: the revenue increased, the equity of tax, and the efficiency of the tax.

  What percentage of the up would be needed to supply

Assume that an electric power plant could be built in the Upper Peninsula using wood as the fuel and would produce 578 megawatts of electricity. Assume that it would have an efficiency of converting wood energy into electricity of 0.26. Let's assu..

  Illustrate the effect of this phenomenon on the world market

"Some economists worry that the aging populations of industrial countries are going to start running down their savings just when the investment appetite of emerging economies is growing" (The Economist, May 6, 1995)

  How do depreciation costs on the house deducted from income

Explain and compare these four different scenarios on how mortgage, depreciation and tax expense impacts decisions on whether or not to purchase a single family income property as an investor. Scenario 1: If the mortgage rate rises from 5% to 10%..

  How to calculate the total cost of production

Fixed cost of production are $6 and the variable cost per unit of labor is $10. The marginal product of the seventh unit of labor is 4. Given this information. what is the total cost of production when the firm hires 7 workers.

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