Energy efficiency the same thing as economic efficiency

Assignment Help Business Economics
Reference no: EM131173854

Engineers at a national research laboratory built a prototype automobile that could be driven 180 miles on a single gallon of gasoline. They estimated that in mass production the car would cost $40,000 per unit to build. The engineers argued that Congress should force U.S. automakers to build this energy-efficient car. In your opinion, is energy efficiency the same thing as economic efficiency? Please explain your opinion and state whether you support it or not.

Reference no: EM131173854

Questions Cloud

What is the total demand for apples and oranges : Consider an exchange economy with two agents Ann and Bob. There are two goods apples and oranges. Ann is born with 25 apples and 75 oranges. Bob is born with 75 apples and 25 oranges. What is the demand for apples by Ann. What is the total demand for..
Negative relationship between inflation and unemployment : Given that labor is a resource that needs to be used efficiently, what responsibility do you feel the government has in decreasing unemployment? Does the negative relationship between inflation and unemployment have any impact on your decision?
About the contemplate retirement : Marybeth and Anneal are beginning to contemplate retirement. They have saved a total of $ 500,000 for retirement and they are each just 45 years old. The two primary options are listed below. Considering all previous information, which outcome requir..
Positive economics profits in the long run : Firms like McDonald's and Wendy's sell hamburgers, salads, and other products that are differentiated in nature. Given their current menus, explain what level of economic profit these firms can expect to make in the long run? What strategies could th..
Energy efficiency the same thing as economic efficiency : Engineers at a national research laboratory built a prototype automobile that could be driven 180 miles on a single gallon of gasoline. They estimated that in mass production the car would cost $40,000 per unit to build. The engineers argued that Con..
Calculate the amount of the government deficit : Suppose government purchases amount is $3.5 trillion, transfer payments amount is $0.5 trillion, net interest payments are $0.25 trillion and tax revenue is valued at $2 trillion. calculate the amount of the government deficit; calculate the primary ..
Draw production possibilities curve for the pleasure : Draw a production possibilities curve for the pleasure you get between hanging with friends and from doing your Economics problem set. Are these activities complementary or are they substitutes? Does it matter which friend you are studying with? How ..
Suppose that inflation in the preceding period : Given Phillips curve ?π = - 0.3 (U - 6) + ρ, suppose that inflation in the preceding period was 3 percent, unemployment is 7 percent, and there is no price shock. The current inflation rate is?
One reason that some whales were hunted close to extinction : One reason that some whales were hunted close to extinction is that no one can claim ownership of a whale until it is killed. If property rights to the whale population were established

Reviews

Write a Review

Business Economics Questions & Answers

  Comparing the opportunity cost of producing wine

Suppose that Italy and Germany both produce fish and wine. Italy's opportunity cost of producing a bottle of wine is 4 pounds of fish while Germany's opportunity cost of producing a bottle of wine is 9 pounds of fish. By comparing the opportunity cos..

  Certain industry is competitive and there are many firms

Suppose that a certain industry is competitive and there are many firms all with the same cost function given by: LRTC=q3 - 2 q2 + 2q (MC = 3 q2 – 4 q + 2 ) The industry inverse demand curve is given by: p = 11 - .2 Q Find LR equilibrium q, Q, n, p, ..

  Think digital strategy is suitable for a luxury industry

Provide TWO (2) reason why it is said wineries that are looking to make an impact in China must create a strong digital strategy." In your opinion, do you think digital strategy is suitable for a luxury industry like the wine market?

  What empirical method generally is used to measure

What empirical method generally is used to measure the degree to which products substitute for each other?

  Two-person game- the dollar remains on the table

There is a dollar on the table, which each player can try to grab. If only one player grabs, G, and the other does not, D, the player who grabs gets the dollar and his payoff is 1, while the other player's payoff is 0.

  Calculate the current equilibrium output of this economy

Consider a hypothetical economy without government or international trade. Households spend $0.90 of each additional dollar they earn and save the remaining $0.10. Even when they have no income, they spend $100 in total. Firms plan a total of $150 in..

  What about a null hypothesis stating that the mean

The Bureau of Labor Statistics generally uses 90% confidence levels in its reports. One report gives a 90% confidence interval for the mean hourly earnings of American workers in2000 as $15.49 to $16.11. If the null hypothesis states that the mean ho..

  Total market value of production in economy must equal

The total market value of production in an economy must equal total: Participants in our economy include:

  Reduce the supply of microcomputers

Which of the following would reduce the supply of microcomputers? A technological improvement that lowers the cost of producing the computers Higher wage rates for the workers that assemble the computers A reduction in the price of computer chips use..

  Illustrate what proportion of population would score high

illustrate what proportion of the population would score higher than Bob.

  Eliminating old infrastructure and helping to create jobs

Using the broken window fallacy as described in “In The News” (p. 14 of Principles of Microeconomics), explain why some journalists, policy makers, and others proclaim that natural disasters are good for the economy in terms of eliminating old infras..

  Mortgage-backed securities are

Mortgage-backed securities are: If the real rate of return is 2 percent, and the inflation rate is 2 percent, then the nominal interest rate must be:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd