Explain why might electricity restructuring be a good idea

Assignment Help Microeconomics
Reference no: EM13184121

You have been put in charge of electricity restructuring on the Isle of Mann. As part of the restructuring plan, it has been suggested to you that all wholesale electricity should be sold on the spot market at a price that is set every single minute where supply equals demand. So no long-term contracts would be allowed. Is this a good idea or a bad idea?

Explain exactly why might electricity restructuring be a good idea?

Reference no: EM13184121

Questions Cloud

Supervisor for a private security company : Supervisor for a private security company that has been contracted to provide security services for a college football game. You are providing training to the officers assigned to the access gates, where they examine bags to ensure that no weapons or..
What price should the company charge for a pair of shoes : Suppose that the marginal cost faced by a shoe company is $10 for a pair of shoes. If the demand elasticity for the company's shoes is also constant, and is equal to 5, what price should the company charge for a pair of shoes
Explain what happens to the temperature : Describe what happens to the temperature, the volume, and the phase composition ( number of moles of liquid or vapor present) following the removal of 750 J of heat from 1 mol of pure water initially in each of the following states.
Competition and competitive technologie : There are many questions that can be asked and answered to determine if a product still has a useful life. However, there is another variable which is less predictable and that is competition.
Explain why might electricity restructuring be a good idea : You have been put in charge of electricity restructuring on the Isle of Mann. As part of the restructuring plan, it has been suggested to you that all wholesale electricity should be sold on the spot market at a price that is set every single min..
What are the equilibrium price and quantity : If the monopolist is left unregulated, what are the market price and quantity, the monopolists profit, consumer surplus, producer surplus, total surplus, and dead weight loss. If the monopolist is forced to produce where P = MC, what are the eq..
Explain bovine serum albumin is a biochemically : Bovine serum albumin (BSA) is a biochemically useful protein. A 0.225 gram sample of bovine serum albumin is dissolved in water to make 0.117 L of solution,
What is the average annual rate of growth of real gdp : This is for a Macro class I am taking a test prep and I need like a step by step guide as to how i can do this using excel (the data must be found online) I apreciate as much help as possible! Question 1- Using a spreadsheet program, download the..
Explain specific metric unit : When working NMR questions, solutions maunuals say that the peaks are 1.0 spaces long or 5.5 spaces long.

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