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- Discuss the issues involved in the design of an optimal depletion policy for the UK Oil & Gas sectorExplain, using a diagram, the optimal extraction across time periods of a depletable resource such as offshore oil assuming constant marginal extraction costs and the availability of a renewable substitute such as offshore wind. What determines the switch point from depletable to renewable resource?How does the depletion allowance impact the profitability and sustainability of natural resource extraction industries in the context of environmental concerns and resource depletion?
- Apple is selling 30,000 units in Europe at an average price of 1500 euros per unit. Both the spot and forward rates are $1.20/euro. The cost of each unit in dollars is $1300 per unit. The elasticity of demand for Apple computers in Europe is Euro= 1.5. Now consider a depreciation of Euro (relative to US $) from $1.20/ euro to $1.08/Euro and assume zero passthrough. What is Apple's exposure? a. $45 mn b. $20 mn c. Euro 45 mn d. Euro 20 mnWhat is meant by the term spillover sales? Why is itimportant?In our resource allocation over time, we presented an economic theory that implies the existence of an optimal depletion. Explain why the optimal depletion rate may imply depleting a resource to exhaustion within a limited time period?
- MB=380-3Q and MC=28+Q. Where price is measured in dollars and quantity is measured in barrels. Assume the following: The total oil reserve is 120 tons There are 2 periods, 11 years apart MB and MC are the same in both periods. If the first period is ONLY interested in maximizing its own welfare and no restriction is imposed, how much will each period end up consuming?Please answer questions 2, 3, and 4. 2. Many states are now imposing severance taxes on resources being extracted within their borders. How is the consumption path of depletable resources with severance taxes imposed compared to the case without taxes? Assuming an increasing marginal extraction cost of depletable resources over time. A. For the same time period, consumption for depletable resource decreases due to the imposition of severance taxes. B. For the same time period, consumption for depletable resource increases due to the imposition of severance taxes. C. For the same time period, consumption for depletable resource stays the same regardless to the imposition of severance taxes. 3. Suppose there exists a renewable energy substitute for depletable resources with an increasing marginal extraction cost. How would per-unit subsidy on renewable energy change price path for renewable energy? A. Price for renewable energy with subsidy is higher than the case without subsidy. B.…As part of their decarbonization efforts, oil and gas corporations are developing solutions such as carbon capture technologies. Analyze the impact of the low-carbon energy transition on the oil and gas industry.
- Chapter 23 State and Local Taxes True / False Questions 1. The primary purpose of state and local taxes is to raise revenue to finance state and local government. True False 2. All states employ some combination of sales and use tax, income or franchise tax, or property tax. True False 3. State tax law is comprised solely of legislative authority. True False 4. Commercial domicile is the location where a business is headquartered and directs its operations from. True False 5. Nondomiciliary businesses are subject to tax everywhere they do business. True False 6. Use tax liability accrues in the state where purchased property will be used when the seller is not required to collect sales tax. True False 7. Businesses engaged in interstate commerce are subject to tax in every state where they operate. True False 8. The state tax base is computed by making adjustments to federal taxable income. True False 9. Businesses subject to income tax in more than one jurisdiction have the…Why has coal dominated as a fuel source for 24/7/365 electricity generation for so many decades?Suppose the Marginal Benefit and Marginal Cost for crude oil at any given period is: MB = 159 - 2.1Q and MC=36 + 0.9Q Where price is measured in dollars and quantity is measured in barrels. The total oil reserve is 50 tons. What is the Optimal barrels of oil that should be extracted in the current period (suppose we don’t need to be concerned with any future periods)?