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In 2005, APEX received a tax credit for production of its solar panels through the US Department of Energy's Energy Efficiency and Renewable Energy (EERE) procurement plan. The credit allowed APEX to reduce the selling price of its panels by 15 percent. In response to this discounted price, APEX experienced a 20 percent increase in the number of solar panels sold for home construction during the first 12 months following this price reduction. Over time, home builders found that, not only were the solar panels a cost-effective source of residential energy supply, but they also were an added plus in marketing for today's environmentally conscious customers.
The Department of Energy is considering diverting funds from the solar panel subsidy in order to provide more financial support for alternative energy research. The CFO has asked your team to make a projection of how APEX's sales volume might be affected if in fact this tax credit is repealed and solar panel prices rise by 15 percent this year. Is it reasonable to think that APEX will experience a 20 percent drop in the number of solar panels sold? Or, could you argue that the drop in sales might be something less or something more than this? Use economic reasoning to justify your forecast.
An interesting example of strategic behavior comes from the 1997 article regarding Microsoft's investment in Apple (New Straits Times, 1997). The article is included in Required Readings list.
Draw a correctly labeled loanable funds graph that shows what happens to real interest rates.
On Valentines Day, the prices of flowers and chocolate are usually high compared to other times. How do the principles of demand and supply describe the reasoning behind such price increases?
Externalities are 3rd-party consequence of some other action. They can be positive or negative externalities and they impose a benefit or cost to a 3rd-party.
Employ the following equation to demonstrate why the firm producing at the output level where MR=MC will also be able to maximize its total profit
Question: Do brief research on ASEAN Economic Community (AEC) and discuss on the following questions: How does the AEC affect the multinational firms investing in AEC members? What is the effect of AEC on the U.S. economy?
Suppose the market shares of the six largest firms in the industry are 12 percent each. Compute the six-firm concentration ratio and Herfindahl-Hirschman index for this industry.
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.)
The atmospheric pressure of 100k Pa acts on the other side of the piston. The gas is heated until the volume is doubled and the final pressure is 500 kPa. Calculate the work done by the gas.
This is a challenging question and involves algebraically solving system of two equations given by AD abd AS curves. The equations for the curves are given through the following:
What would each of the following events do to the terms of trade of the importing country and the exporting country, other things being equal?
Mention two economic choices you had to make with in last week. Alfred Marshall said in 1890s, "economics is the study of man in ordinary business of life." You must examine one or two of these choices in terms of alternatives you gave up.
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