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Natasha has been told that if she reduces the thermostat setting on the heating system at her home by 1 degree, she will be able to reduce her present annual energy consumption of 5,000 kWh of energy by 20%. In doing so, she will be able to save as much as $250 per year.
a) What is the implicit cost of 1 kWh of energy consumption?
b) If Natasha reduces the thermostat setting by anther degree , she can reduce her annual energy consumption by another 10%. Based on your answer in part (a) , How much more money would she be able to save ?
Board of directors has directed you to choose an output level that maximizes the firm's profit. You have an incentive to maximize profits because your job and salary depend on the profit performance of this company.
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Discuss whether each statement is an example of positive economics or normative economics or if it contains elements of both: an increase in the personal income tax will slow the growth rate of the economy.
Illustrate what is micelles opportunity cost of producing potatoes and or chickens if she were to produce 200 pounds of potatoes per year and 50 chickens per year.
Explain how does the price elasticity of demand for corn oil influence the quantity-demanded of corn oil and the Total Revenue earned by sellers of corn oil.
q1. for each of the determinants of demand in equation identify an example illustrating the effect on the demand for
Suppose market demand and supply are given by Qd = 100 – 2P and QS = 5 + 3P. If a price ceiling of $10 is imposed, what will be the resulting full economic price?
illustrate what is which industry's marginal revenue as it increases o/p from 1300 units to 2200 units.
Explain how the CPI differs from the PPI, as a measure of the U.S. inflation rate and why is inflation risk a business management risk - Why is inflation risk a business management risk?
In regard to developing countries, if American foreign policy makers have to choose between supporting an election that brings to power an anti-American government or supporting a dictator who is pro-American, which should they choose, and why? ? How..
According to Banerjee and Duflo, poor people make decisions differently than do those who are not poor. In their view, this is the fundamental obstacle to economic development in poor countries. Do you agree or disagree? Explain your answer.
Using an aggregate supply/aggregate demand model chart the short run effects of decreasing government spending (assuming you began in a short run and long run equilibrium)
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