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1.why secondary market impacts should be ignored when prices in the secondary market do not change.
2.Why don’t large positive multiplier effects on local spending from events such as the
Superbowl, or any sizeable local project or event, indicate the project’s benefits exceed its
costs, even locally?
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Solved in 3 steps
- 2. Is the non-refundable tuition payment you made to your university this semester a sunk cost? What if tuition was refundable on a prorated basis for the entire semester?1. Why is CSR play a crucial role in attracting customers ?38. Which of the following statements on energy efficiency gap is correct?a. It is mainly due to government failure.b. It refers to the difference between observed levels of energy efficiency and costeffective optimal energy efficiency.c. It is synonymous with the rebound effect.d. All of the above.39. Which one of the following statements on the causes of the energy efficiency gap iscorrect?a. The likelihood of buying an energy efficient refrigerator is higher if a consumerperceives a discount rate that is much higher than the market discount rate.b. Bounded rationality implies that consumers make decisions by comparing benefitsand costs.c. The principal/agent issue points out the possibility that a tenant is likely to use moreenergy if the utilities are covered in the rent.d. If energy markets are not competitive there will be an energy efficient gap.40. Which one of the following statements on the rebound effect is correct?a. It is only due to an increase in income.b. It is the…
- Neoclassical economists like Stern and Nordhaus both use a measure called the "social cost of carbon" in their climate change modeling and assessments of sustainable pathways. What is meant by the "social cost of carbon"? the value of statistical life used in climate change analysis b. the rise in temperature caused by an extra ton of carbon C. the estimated cost of the damages created by one extra ton of carbon dioxide a. emissions d. an integrated assessment model like PAGE, DICE or FUND5. An economy has two industries: services and manufacturing. To produce $1 of services requires 20¢ of services and 40¢ of manufacturing. To produce $1 of manufacturing requires 30c of services and 10¢ of manufacturing. (a) If there is an external demand for $900 of services and $1500 of manufacturing, how much of each industry should be produced to meet it? (b) Find the internal consumption when demand is met. (c) Which industries, if any, are profitable.3.Minimizing costs implies that which of the following conditions are true? (check all that apply) a. MPL/w=MPK/r b. Q=wL+rK c. MPL=w d. MPK=r e. MRTS=w/r
- 6. You are the mayor of a town with 20,000 residents. The head of your economic development agency recently conducted a survey in which the 20,000 residents said that a small public library in the center of town would be worth $40 to each of them. The cost to build the library is $500,000. Which of the following is the most efficient option? a. The library should be built and paid for with donations collected from residents, as these donations should more than cover the cost of the library. b. The library should be built and paid for by the wealthiest ten percent of the residents. c. The library should be built and paid for by the town government and paid for with a tax on the residents because all residents would benefit from it but some residents would not donate if they were asked. d. The library should not be built.What are the definitions of local public goods, club goods and congestible goods?What makes climate change an economic problem? And if it is, how should policy dealwith it?Your answer should include reference to at least three of the following aspects of theproblem:a) Climate change as an externalityb) A carbon tax vs. cap and tradec) Cost-benefit analysisd) Assessing costs to future generationse) Environmental dynamics
- . Which one of the following graphically displays one of the major challenges whenintegrating non-dispatchable technologies in the electric grid?a. The Phillip curve.b. The Kuznets curve.c. The Hubbert curve.d. The Duck curve.1. The Ministry of Works and Supply has plans to construct a network on roads and tollgates in Vubwi District. Its permanent Secretary presents this plan to cabinet asking for approval and argues that although the project costs a lot of money at present, it will yield very significant benefits for the next 20 years. He presents the following summary of costs and revenues shown in Table 1. Table 1 Summary of costs and benefits for proposed road project Year of activity (million Activity Road Construction Resurfacing of road Resurfacing of road 0 5 10 15 Resurfacing of road Collection of toll gate From year 3 to year fees 20 Costs ZMW) 400 5 7 10 Benefits (million ZMW) 10 annually (once tollgates are operationally) The government currently spends ZMW 3million annually on resurfacing the gravel roads and patching up the few dilapidated bituminous roads in Vubwi district. (a) Using a discount rate of 10%, conduct a cost-benefit-analysis, and advise the cabinet accordingly. (b) Briefly…23.Describe how the automoble industry affect both national economics and society.
