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Q1. An oil company refines crude oil valued at $62/barrel and sells it to motorists at its retail outlets. The price is $2.90/U.S. gallon ($0.77/L). On a per unit basis (e.g., per gallon or per liter), by what percentage has the price increased going from crude oil before refining to final sale to the motorist? Also what happens when oil at $100/barrel and retail outlet price at $4.00/gal ($1.06/L)?
Q2. In the context of the shareholder wealth max model and the Simple model, discuss the difference between them and explain the managerial actions that can influence the firm profitability?
Assuming fuel is one of the main inputs for many sectors. When a war breaks out in Country X, which is the main producer for fuel in the world, it causes fuel supply disruptions in the world.
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What percentage of the total variation in the number of calls is explained by the regression model.
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The equilibrium quantity increase or decrease depends on Demand
Compare and contrast inflation and deflation. What are some of the damaging effects that each has on an economy.
State two economic principles of taxation and which principle best justifies the excise tax on gasoline, when the tax revenue is used to maintain or improve the roads.
Suppose a politician promises a program that will give Amanda and Britney 70 units of utility for each.
Now suppose your utility functioin is U= (square root)Wealth. What is the maximum you will pay for the bike check-in now.
What is the relationship between marginal cost and marginal revenue when single-price monopoly maximize profit.
The currency-deposit ratio has been and is likely to remain relatively stable. The ratio of non-transactions deposits to transactions deposits increased by a factor.
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