Assume that a country is endowed with 33 units of oil reserve. (a) the marginal willingness to pay for oil in each period is given by P = 11 – 0.59q (b) the marginal cost of extraction of oil is constant at $3 per unit (c) the discount rate is 2% (d) the marginal cost of renewable energy is $9, where c
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- Many states are now imposing severance taxes on resources being extracted within their borders. How is an increasing marginal extraction cost (over time) of depeletable resource by the imposition of severance taxes compared to the case without taxes? A. Marginal extraction cost increases due to the imposition of severance taxes B. Marginal extraction cost decreases due to the imposition of severance taxes C. Marginal extraction cost with severance taxes stays the same as the case without taxesyou will be examining the impacts of the current COVID 19 pandemic on the foreign exchange rate of the Canadian dollars against the currency of one other country of your choice. Referencing external sources properly using APA guidelines will earn you bonus points for this reflection. The length of your reflection should be 200 to 250 wordsSuppose that the annual maintenance cost of a public park is $40,000. The park has no entrance fee and the local government is under considerable pressure to sell it to urban developers. You are asked to estimate the value of the park to the public by using the travel cost method. The park is visited by people living in five concentric zones around it. Each zone has a population of 5000, and the total travel cost for a visit to the park from zone i is given by TCi = 4 (i -1), where i = 1,...,5. For each zone, the estimated relationship between visitation rate V (defined as annual number of visits/(population of zone/1000)) and total travel cost (TC) is given by V = 100 - 5 TC. (a) For each zone, obtain an equation relating the total number of visits from that zone to different levels of a hypothetical fee charged per visit.
- Discuss 5 barriers to effective project planning in Zimbabwe1 Dynamic Efficiency: Optimal resource allocation in a two-period problem The demand for a non-renewable resource is given by: MB = 10 – 0.5Q. The marginal cost of extraction is $2 per unit (MC = 2). Therefore, the Marginal Net Benefits Function (MB-MC) is given by MNB = 8-0.5Q Answer the following question: What is the condition that determines inter-temporal efficiency?Which of the following statements is a characteristic of EX-Work a. The seller bears all risks and charges pertaining to pre-shipment inspection, export/import licenses, and customs duties needed for exploration b. Risk is not transferred to the seller if damage or loss is attributed to the failure of delivery c. Risk is not transferred to the buyer if damage or loss is attributed to the failure of delivery d. The seller bears all risks and charges until the port of export.
- Which of the following statements will hold good in the case of a system with uncertainty in demand for service and in service times? a) When the utilization of resources fall it is an indication of greater efficiency of the service b) It is a good practice to plan for resource utilization levels more than 85% c) Cost of waiting to get serviced is directly proportional to the cost of providing the service d) None of the aboveOcean water contains 0.9 ounce of gold per ton. Method A costs $230 per ton of water processes and will recover 85% of the metal. Method B costs $270 per ton of water processed and will recover 65% of the metal. The two methods require the same investment and are capable of producing the same amount of gold each day. If the extracted gold can be sold for $400 per ounce, which method of extraction should be used? Assume that the supply of ocean water is unlimited. Show handwritten solutionsPrecision agriculture promises all of the following EXCEPT: A The opportunity to use cool technologies B More effective use of chemicals C Reduced chemical input use per hectare in most situations D Higher net incomes (profits) for farmers Evelyn is a chocolate lover but wants to assure that she is purchasing chocolate grown under ethical labor conditions. Which of the following types of chocolate would you recommend Evelyn purchase? A Fairtrade B Organic C Non-GMO D Local
- Which of the following approaches would be most likely to be employed to calculate the worth of protecting an isolated arctic wildlife preserve?Hedonic pricing Travel cost modelsDefensive spendingReplacement cost methodsContingent valuationThe project is desirable according to Hicks compensation criterion if the would-be losers are able to bribe the would-be winners not to make the move from state A to state B TRUE OR FALSEGiven that the marginal cost of a ‘backstop’ (e.g. solar energy) is MCb per unit of an exhaustible resource, prove that the cost of the ‘backstop’ sets an upper limit on oil price and also determines the initial price of oil. (Hint:Utilize the expression pt = MC + (p0 − MC)(1 + r)t and consider T as theswitch date.)