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A 34% efficient nuclear power plant outputs 1000MW per year. Calculate how much money is needed to buy fuel for the lifetime of the plant, 30 years. The fuel contains 7% of uranium, and 0.003g is lost when 235g of pure uranium is consumed. The plant operates 365 days per year. The price of the fuel is US$1000/metric ton.
Suppose the MWTP in periods 1 (now) and 2 (one year from now) is given by P = 8-0.4q. Marginal extraction cost = $2. r = 10%. The available supply is 20 units. Suppose 13 units are consumed in period 1 and 7 units in period 2. Calculate the present v..
When the price of bananas is 50 cents a pound, the total demand is 100 pounds. If the price elasticity of demand for bananas is −2, what quantity would be demanded if the price rose to 55 cents a pound?
Gasoline prices in the United States decreased significantly between 2008 and 2009. A decrease in the price of? gasoline, holding other things? constant, will cause which of the following to? occur?
An industry has 1000 competitive firms, each producing 50 tons of output. At the current market price of $5, half of the firms have a short-run supply curve with a slope (change in quantity/change in price) of 1; the other half each have a short-run ..
Democracy, Government Responsiveness, and Electoral Accountability: In the modern theory of the state, economists tend to think of the role of government as that of a (benevolent) social planner. How does the ‘new political economy’ depart from this ..
It is just a coincidence that economy is currently in recession. The prime minister has asked you to frame a policy package that will restore full employment without affecting the current account. Using the DD-AA model, describe a package of monetary..
Often, there is news and critics that cast stones at the economic policies of Congress and/or the President. However, I find that average critics don't offer up an alternative solution, but simply criticize. Pretent that you are in charge for a day o..
How could you use the concepts of marginal cost and marginal revenue to maximize profit? What information do you need to determine this? Without this information, how would you make a decision?
The following graph shows an increase in aggregate demand (AD) in a hypothetical country. Specifically, aggregate demand shifts to the right from AD1 to AD2, causing the quantity of output demanded to rise at all price levels. Complete the table by i..
The market for paper in a particular region in the United States is characterized by the following demand and supply curves: Calculate the output and price of paper if it is produced under competitive con- ditions and no attempt is made to monitor or..
in a study available in 1980 b. b. gibson estimated the subsequent price and income elasticity of demand for six types
What advantage does a country have if it restricts or does not allow its currency to become “convertible” – this is called a “non-convertible” currency [an example is the Chinese Yuan].
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