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Assume that an electric power plant could be built in the Upper Peninsula using wood as the fuel and would produce 621 megawatts of electricity. Assume that it would have an efficiency of converting wood energy into electricity of 0.29. Let's assume that wood has an energy content of 5.74 million BTU per ton. Assume that 3.1 tons of wood can be sustainably harvested from each acre of land per year. There are 640 acres per square mile, and the UP has 16,452 square miles. What percentage of the UP would be needed to supply this power plant? Express your answer in percent to one decimal place without the percent sign.
How much substitutability do you suppose exists between inputs in winemaking? How might this factor affect efforts to cut costs?
Find the breakeven discount rate such that the net present value of this development opportunity is zero and will the future value of this investment be sufficient to compensate those that suffer damages in year 20?
Discuss why is increasing per capital income necessary but not sufficient for broadly dipping poverty and improving human welfare?
Compute the equilibrium price and quantity. Describe why the output and price levels are different for X1 and X2. Explain what occurs to consumer surplus, producer surplus, and deadweight loss.
An externality is a) a cost or benefit resulting from some activity or transaction that is imposed or bestowed on parties outside the activity or transaction b) the total cost to society of producing an additional unit of a good or service c) th..
What are the possible reasons for the price rise mentioned in the news article? Use demand and supply models to illustrate what has happened in the egg market. Make sure that you clearly state any underlying assumptions in your analysis.
Which price constitutes firm 2's optimal commitment strategy? Justify your answer and explain why it makes sense.
What would each of the following events do to the terms of trade of the importing country and the exporting country, other things being equal?
Is the main outcome of economics (high standard of living) the only relevant question in the realm of economic analysis? Do you agree? Is quality of life also significant?
An asset is to be used in a project that will last 5 years. The MACRS property class for this asset is 3 years. If B = l0, 000 and S=3,000 at the end of year 5, determine the depreciation schedule.
An industry with twenty companies but the CR = 80 percent is called "high concentration", for a concentration ratio of 80 to 100% is viewed as high concentration.
The World of Videos operates a retail store that rents movie videos. For each of the last 10 years, World of Videos has consistently earned profits exceeding $30,000 per year. The store is located on prime real estate in a college town. World of V..
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