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A study of costs of electricity generation for a sample of 56 British firms in the 1946-1947 yielded the following long-run cost function: AVC = 1.24 +.0033Q + .0000029Q2 - .000046QZ - .026Z + .00018Z2 Where AVC = average variable cost (i.e., working costs of generation), measured in pence per kilowatt hour (kwh). (A pence was a British monetary unit equal, at that time, to 2 cents U.S.). Q = output, measured in millions of kWh per year Z = plant size, measured in thousands of kilowatts A. Determine the long-run variable cost function for electricity generation
which is an accurate description of the revolution? A. it never had majority support b. two thirds of the population either opposed it or did nothing to support it c. It became a popular war, maintaining wide spread popular support after 1776 d. A..
A needed service can be bought for $550 per unit. The same service can be provided by equipment that costs $225,000, has a salvage value of $75,000 at the end of 10 years and costs $21,500 annually plus $35 per unit to operate.
Assume that there are no transactions or carrying costs. Should you buy or sell wheat futures? If each wheat futures contract is for 5,000 bushels, how many contracts will you buy or sell? How much will you spend or receive in buying or selling th..
The new mayor has pledged to reduce air pollution, and the only source of air pollution in the city are two cement plants, plant A and plant B. 25 years ago, when plant A was constructed, the cement production techn..
Because people dislike commuting to work, homes closer to employment centers tend to be more expensive. The price of a home in a given employment center is $60 per day. The daily rental price for housing drops by $2.50 per mile for each mile farth..
Cars arrive at Carla's Muffler shop for repair work at an average of 3 per hour, following an exponential distribution. (a) What is the expected time between arrivals? (b) What is the variance of the time between arrivals?
a mortgage banking company has been evaluating the merits of a 50-year mortgage. The basic idea is to reduce the monthly payment and make home ownership more affordable. the APR of either mortgage is 6% and the compounding is monthly.
At a student café, there are equal numbers of two types of customers with the following values. The café owner cannot distinguish between the two types of students because many students without early classes arrive early anyway (i.e., she cannot p..
Suppose that a country has no public debt in year 1 but experiences a budget deficit of $40 billion in year 2, a budget deficit of $20 billion in year 3, a budget surplus of $10 billion in year 3, and a budget deficit of $2 billion in year 4.
Suppose that last year, the nominal exchange rate between the Japanese yen and the British pound was ¥225.0 per £1.0, one unit of Japanese output cost ¥2000, and one unit of British output cost £8.0. What was the real exchange rate between the U.K.
If the price of shoes is set at $75 for both July and August and demand will be D2 in July and D1 in August, how many pairs of shoes should Stromnord order if it wants to end the month of August with exactly zero pairs of shoes in its inventory.
The demand for good X is given by: Qdx= 1,200-1/2Px+1/4Py-8Pz+1/10M Research shows that the prices of related goods are give by Py=$5,900 and Pz=$90, while the average income of individuals consuming this product is M=$55,000.
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