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Application: light bulb efficiency and energy consumption
LED light bulbs use only 20 to 25 percent of the energy used by traditional incandescent bulbs. Even if all consumers replace their old bulbs by the LED bulbs, do we expect that the arrival of LED light bulbs will decrease energy consumption for lighting by 75 to 80 percent? Please explain the reasoning behind your answer.
A company named Highway Data has been given a contract to install highway information signs along a 500 mile portion of interstate 555. The signs will be placed at the end of each 10 mile section. The signs cost $138 each. Data fiber optic cable comm..
a company that recently spent $10,000 to develop a statistical software package.
Consider a monopolist whose total cost function is TC = 20 + 10Q + 0.3Q2 and whose marginal cost function is MC = 10 + 0.6Q. The demand function for the firms good is P = 160 - 0.5Q. The firm optimizes by producing the level of output that maximizes ..
A cost-effective policy is always socially efficient. Enforcement costs are critical to the success of environmental programs and should be included in the overall social costs of the program when evaluating different policy options.
A U.S. government bond matures in 10 years. Its quoted price is now 96.4, which means the buyer will pay $96.40 per $100 of the bond’s face value. The bond pays 5% interest on its face value each year. If $10,000 (the face value) worth of these bonds..
How long will it take, in months, to pay off the balance, if the cardholder continues to make payments of $110.25 per month and adds no other charges to the card?
Peggy's Peaches has developed a new product, the Bruiseless Peach, which always stays peachy fresh. Peggy's paid 85,000 to a marketing firm to survey the bruiseless peach market. The potential sales were estimated at $250,000 per year. New equipment ..
When economists attempt to predict the spending patterns of U.S. households, they will typically view the ____________ as a primary determining factor that influences the individual consumption choices that each will make. Which of the following fall..
when the state cuts its rate by 4 cents an hour. Explain how the fall in the average weekly wage and the minimum wage will influence aggregate supply.
Illustrate what is the relative labor supply in the economy. Derive it and draw it in the same picture as in part (a). Calculate the equilibrium relative price of labor.
Describe briefly one trade topic identified by the WTO on the website. And, what did you learn from the Web site about the WTO.
In a current newspaper article you also read that The Camera Shop has exhausted its undertaking capital and that no new investors
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