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It costs $34,000 to retrofit the gasoline pumps at a certain filling station so the pumps can dispense E85 fuel(85% ethanol and 15% gasoline). If the station makes a profit of $0.07 per gallon from selling E85 and sells an average of 20,000 gallons of E85 per month, how many months will it take for the owner to recoup her $34,000 investment in the retrofitted pumps? The interest rate is 1% per month.
It will take ____months to recoup the investment.
Explain the link between scarcity, choice and the production possibility curve. In your answer includes a description of the three concepts in your own words (300 words maximum).
Identify the two events that can cause a shift in the Production Possibilities curve.
In the spring of 2002, lettuce price doubled from about $1.5 to $3 per head. The reaction of one consumer was quoted in newspaper article; "I will not buy lettuce when it is a $3 a head" she said, adding that other green vegetable can fill in for let..
Illustrate what role did the policies of various governments play in influencing the international expansion strategies of both McDonalds's also Wal-Mart.
Graph and label the Lorenz curve for a country in which 1/4 of the population earns 3/4 of the income, 1/2 of the population earns 1/10 of the income, and 1/4 of the population earns 3/20 of the income. Assume that every individual within each class ..
From the supply and demand schedules, from Belgium what are the equilibrium price also quantity of cocoa beans.
Consider two fictional economies, one called the domestic country and the other called the foreign country. Given the transactions listed below, construct a balance of payments account for each county. Include a statistical discrepancy.
There are two firms in the market that produce pencils. The first firm’s marginal cost curve is given by MC1 = 0.055Q, while the second firm’s marginal cost curve is MC2=0.026Q. Society's benefits are given by 250-4.71Q. What is the consumer surplus ..
Two consumers Jorge and Admen, together own 1,000 baseball cards and 5,000 Pokémon cards.
Consider Solow's model when the production function is Y = 1000K0.3 L0.7 . The population growth rate is 2%, ? = 0.1 is the depreciation rate and s = 0.25 is the savings rate. Suppose this economy was in its steady state when unexpectedly Total Facto..
Illustrate what was impact on supply and demand of labour on one sector of labour market. Elucidate factors that affected labour demand and labour supply in chosen historical example.
An investor is considering the construction of a new marina on the Detroit river at a cost of $68m. M&O costs will average $80,000 per year for the first five years, and rise to $100,000 per year thereafter. A major overhaul costing $12m will be requ..
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