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- Describe how the phasing out of subsidies to the oil industry can affect Peak Oil.True or false Among industrialized nations worldwide, there is an apparent inverse correlation between gasoline price and gasoline consumptiondescribe a decline in purchasing power evidenced in an economic environment of rising prices?
- The use of raw materials is an important element of the non-price determinant known as technology. costs of inputs. expectations of future prices. taxes and subsidies.(Q1) Many software companies, after years of providing unlimited free telephone technical support for their products, began to charge for these services (typically after an initial start-up period of 90 days). Most companies offer two pricing plans. For instance, Lotus Development offers users of their spreadsheet software the option of paying either (i) $2.00 per minute for telephone support or (ii) a $129 flat charge for a year of unlimited toll-free calls. Question 1: Consider a customer with a yearly (expected) demand for service support of P = 11 – 0.1Q, where P is the price per minute and Q is the number of minutes of calls made per year. How many calls would this customer make under plan (i)? Why? How many calls would he or she make under plan (ii)? What would be the annual cost to this customer under each plan? Explain your answer. Question 2: Which plan would this customer choose? Explain your answer.Consider the following scenario: In Great Britain, the electricity system operator publishes a wind generation forecast of 14 GW for 7 PM on the next day. On the morning of the next day, the electricity system operator revised its wind generation forecast for 7 PM down from 14 GW to 11 GW. Do you expect the wholesale electricity market price for 7 PM to increase or decrease at this time? Explain your answer.
- Cloud Cafe is considering the sale of promotional mugs. It can have the mugs produced by one of two suppliers. Supplier A will charge them a setup fee of Php13000 plus Php40 for each mug; Supplier B has no setup fee and will charge Php60 per mug. The company estimates its demand for mugs to be given by Q=32000-400P, where P is the price in Philippine peso and Q is the number of mugs (hint: the price equation is P=80-0.0025Q). In order to make sound decisions, the company's management asked the assistance of their student trainees from FEU in assessing the cost and revenue implications of the promotional campaign. 1. If the company wants to give the mugs away for free, how many mugs should it order? 2. What is the company's marginal cost if Supplier A is chosen? 3. What is the company's marginal cost if supplier B is chosen? 4. If the company seeks to maximize profit from selling mugs and Supplier A is chosen, how many mugs should the company order? 5. If the company seeks to maximize…Coffee is now the second most traded commodity in the world after crude oil. Not only has demand for various coffee products risen sharply in Western countries in recent years, increasingly there is also greater taste for coffee drinks in developing countries such as China and India. In addition, by-products of coffee beans have become popular such as coffee leaves which can be used to brew a tea with known health benefits. However, as a natural produce, coffee plants are subject to weather conditions. Recently major producers such as Brazil have been plagued by droughts. Using the demand-supply model, explain the likely effects of these phenomena in the coffee bean market. How can a market analyst use this information to her advantage?The supply and demand curves for bananas are as follows: QD = 3,750 - 725P QS = 920 + 690P where Q = millions of bushels and P = price per bushel. d) Who is made better off by the price floor? Who is made worse off? Explain
