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Question: The 2000-2001 California energy crisis produced brownouts, utility company bankruptcies, and worries about high prices. The California electric power regulatory program imposed price ceilings on electricity sold to consumers. The following exhibit describes the California situation with PS as the price ceiling. Answer the following questions referring to this exhibit.
a. What was the loss imposed on consumers by this price ceiling?
b. What was the loss imposed on producers by this price ceiling?
c. What was the total loss imposed on California by this price ceiling?
d. Using this exhibit, explain the brownouts in California.
e. What would have to be true for consumers to support market set prices? Use the exhibit to explain why there might not be support among consumers for raising prices.
Assume you want to hedge a $400 million bond portfolio with a duration of 4.3 years using 10- year Treasury note futures with a duration of 6.7 years.
Describe a recent disaster and recall the amount of aid that came from IGNOs. Provide your opinion on the predominant methods that IGNOs have used to penetrate or dominate international decision-making.
Compare and contrast the U.S. health care delivery system relative to spending per capita and ranking of healthcare outcomes with the health care system of two (2) other countries.
How much revenue would the government get from this tax? Round your answer to the nearest thousand dollars. ______ thousand dollars
Describe why the US farm policy is failing. Why were the WTO 2005-6 meetings a failure. What were the main issues and reasons.
Now assume the time students go to college is not predetermined. The firm that wants to hire a high quality worker now sets a salary premium of $30,000 instead. What is the quality-separating college time?
a.) Complex systems such as the climate are characterized by thresholds and feedback loops. Describe 2 positive feedback loops for global climate change. Describe 2 negative feedback loops for global climate change.
Frank owns a soda fountain and sells milkshakes. he sells 50 milkshakes per day for $5 each. his daily cost is $290, of which $30 is fixed cost.
Do rich people hold a higher percent of their income as money than poor people - How does money flow from the less fortunate to the more fortunate
There are economies of scale in ranching, especially with regard to fencing land. Suppose that barbed-wire fencing costs $10,000 per mile to set up. How much would it cost to fence a single property whose area is one square mile
How do the labor laws compare to those in The United States? How will the company have to change its operations in order to fit into the culture of the country?
kywalker Farms supplies water to the town of Mos Eisley (they are \the water company", i.e. a monopoly supplier). Given their infrastructure of pipes, treatment centers, etc, the marginal cost of supplying one gallon of water is only $.50 (and is..
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