The demand for a natural resource + years from now will be increasing at a rate of te0.0021 million units per year. If the current demand is 440 million units, write a function for the demand + years from now. Answer D(t) = million units Keypad Keyboard Shortcut

What is the difference between a fixed input and a variable input?

Why has coal dominated as a fuel source for 24/7/365 electricity generation for so many decades?

HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow HighFlyer Airlines to give passengers more comfort and sell more tickets at a higher price. However, redesigning the cabin means rethinking many other elements of the airplane as well, like engine and luggage placement, and the most efficient shape of the plane for moving through the air. HighFlyer Airlines has developed a list of possible methods to increase cabin space, along with estimates of how these approaches would affect the planes operating costs and ticket sales. Based on these estimates, Table 13.5 shows the value of R, how much should the firm invest in R on top of the private return; that is, an R private return to HighFlyer Airlines would have a 9 social return. How much investment is socially optimal at the 6 interest rate?

Are fixed costs also sunk costs? Explain.

Can you think of ways that globalization has helped you economically? Can you think of ways that it has not?

What are diminishing marginal returns as they relate to costs?

Small Mom and Pop firms, like inner city grocery stores, sometimes exist even though they do not earn economic profits. How can you explain this?