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In producing petroleum from oil shale, approximately 1.5 metric tons of shale should be processed to produce one barrel of oil (140 kg). Determine the mass and volume of spent oil shale resulting in the production of one million barrels of oil. Take the density of the loosely dumped spent shale to be 1.2 metric tons per cubic meter. What would be the volume produced in one year for the production rate of one MBD? Assuming that the spent shale is uniformly distributed with a height of 100 m, determine the land area needed to dispose of one year's waste.
Reinert maintains that the evidence is that North-South trade has a _______ negative impact on the wages of Northern unskilled workers, and that protectionism ___________ a reasonable response.
The World Bank projects that the world's population will increase from 7 billion to 8 billion in 2025. World output today is roughly $80 trillion. What is global per capita income today? What will per capita income be in 2025 if the world's economy d..
A perfectly competitive firm will operate and incur an economic loss in the short run if. A perfectly competitive firm's short-run supply curve is the same as its. f firms in a perfectly competitive industry are presently earning zero economic profit..
a change in environmental regulation has dramatically raised the price of a substitute chemical that indirectly competes with T3MP. This change undermines the market for the substitute, which is about twice the size of the market for T3MP.
Marginal rate of substitution between leisure as well as labor as well as the marginal product of labor in the Robinson Crusoe model.
The value of the action The cost of the action The difference between the benefit and the cost of the action
What is the efficient number of crabbers - suppose the government wished to promote efficiency in crabbing by requiring crabbers to purchase licenses. How much should they charge (per day) for a license?
A major issue that has arisen after the 2008 Financial Crisis is the debate over “Too Big to Fail” financial institutions. a. What are “Too Big to Fail” financial institutions? b. What are the major concerns with the size of these corporations? c. Wh..
In 3-4 pages, discuss public interest, administrative responsibility and some of the recent ethical obligations confronting public administrators in their day to day decision making. Also examine the recent trend in privatizing government functions a..
Suppose that in 1984 the total output in a single-good economy was 7,000 buckets of chicken and the price of each bucket of chicken was $15. In 2005 the price per bucket of chicken was $20 and 23,000 buckets were produced. Determine the GDP price ind..
Activity-based costing (ABC):
A company currently sells 60,00 units a month at $10 every unit. The variable cost every unit is $6. The company decided to raise the price about 10%.
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