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Two firms can control emissions at the following marginal costs: MC1 = 200q1, MC2 = 100q2, where q1 and q2 are the amount of emissions reduced by the first and second firm. Assume with no control each firm would emit 20 units or a total of 40 units.
a. Compute the allocation that would result if 10 tradable effluent permits were given to the second source and 9 were given to the first source. What would be the market permit price? How many permits would each source end up with after trading? What would the net permit expenditure be for each source after trading?
b. Suppose a new source entered the area with a constant marginal cost of control equal to $1,600 per unit of emissions reduced. Assume further that it would add 10 units in the absence of any control. What would be the resulting allocation of control responsibility if the cap of only 19 units of effluent allowed were retained? How much would each firm clean up?What would happen to the permit price? What trades would take place?
GKX Industries expects sales of its hydraulic seals (in inches and metric sizes) to increase according to the cash flow sequences $70+4k, where k is in years and cash flow is in $1000. What is the amount of the cash flow in year 3
A producer produces good y using a single input x according to the production function y=x^a where 0
suppose that there are 70 firms in operating in the industry. using the MC curve, find out how much output in total is delivered to the market at each price (you only need to consider prices equal to the MC values above). now assume that the marke..
Mike salary will stay at $60,000 per year until he retires. He currently has $82,345 in his retirement fund, which earns 7% annually. He is now 43, and he expects to live until he is 81(he found a website that predicted his life span based on his c..
At its current short-run level of production, a firm's average variable costs equal $20, and its average fixed costs equal $70. Its total costs at its current production level equal $200,000. a. What is the firm's current output level
Graphically demonstrate the production possibilities frontier for nation of Stromboli, using information given in the following table.
A woman managing a photocopy establishment for $25,000 per year decides to open her own duplicating place. Her revenue during the first year of operation is $120,000, and her expenses are as follows: Salaries- $45,000, Supplies $15,000, Rent- $10,..
Would an HMO entering the Medicare market expect to experience favorable or adverse selection?
monthly payments on a loan is $1000 for the next 10 years. Determine the value of the loan if the nominal rate 6% compounded monthly. if we want to pay the loan in 50 months what is the monthly payment
Use the sales data given below to determine a. the least squares trend line b. the predicted value for 2002 sales c. the MAD d. the unadjusted forecasting MSE Year / Sales 1995 / 130 1996 / 140 1997 / 152 1998 / 160 1999 / 169 2000 ..
the owner of a local Honda dealership. unlike other dealerships in the area, you take pride in your no haggle sales polict. Last year, your dealership earned record profits of $1.5 million. However, according to the local Chamber of Commerce, your..
Given an economy that is described by the following equations: C=2,000+0.8(1-t)Y t=0.25 I=800-200i G=1200 L=0.2Y-100i M=45,000 P=150 What equation describes the goods market equilibrium
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