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Per the Kyoto Protocol, European countries have targeted a reduction of CO2 emissions. There are two main types of coal-fire plants in the EU: one type is designed to be able to be retrofitted with abatement equipment at a lower cost than the other type. The EU government has given its economists the job of figuring out the least costly way to reach the goal of reducing pollution by 120 tons of CO2 this year. The marginal abatement costs for each type of plant are as follows: Type 1: MC1 = 5q1 Type 2: MC2 = 3q2 where q1 is the total tons of CO2 removed by type 1 plants where q2 is the total tons of CO2 removed by type 2 plants 1. Suppose the EU implements a command and control system to reduce CO2 emissions. Each plant is to abate 60 units. Why is this policy not cost effective? Show this is the case using 2 methods: a graph and two types of calculations: one finding the TVC and one using the MCs.
Describe the biological changes associated with later adulthood. Describe services or programs in your local community that later adults would benefit from accessing based upon their level of independence.
Recently, the owner of a Trader Joe’s franchise decided to change how she compensated her top manager. Last year, she paid him a fixed salary of $55,000 and her store made $115,000 in profits (not counting payment to her top manager). She suspected t..
Explain a worker’s labor-leisure choice associated with a wage decrease (assuming non labor income does not change). Illustrate the income and substitution effect associated this wage change on an appropriate graph. Label all curves and axis.
The current account balance will fall if
A new engineer is evaluating whether to use a higher voltage transmission line. It will cost $250,000 more initially, but it will reduce transmission losses. The optimistic, most likely, and pessimistic projections for annual savings are $20,000, $15..
Suppose a business experiences a sudden increase in its fixed costs. For example, suppose property taxes increase dramatically. What impact, if any, will this have on the following?
Find the future worth in year 10 of a periodic investment that starts at $8300 in year 1, increases to $8988 in year 2, and increases by the same percentage each subsequent year. The interest rate is 4% per year.
What are the studies that control for changes in technology, capital availability and perhaps other factors and quantify the impact of merger control on economy-wide market structure/concentration measures?
Assume that at this time in the nation of Economic when families split up there are no required child support payments.
According to the monetarist view,
Question 1 Why would perfectly competitive industries advertise even though individual firms do not? Question 2 We could state correctly that the minimum characteristic necessary to distinguish among pricemaking firms is:
Illustrate what are the three contingent environmental resource evaluation methods also Illustrate what is their significance.
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