Mention the points which drive or suppress developing electric vehicles. Also mention what role should government play in developing vehicles?

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Answer 1

Question

Chapter 1, Problem 1QTC

To determine

Mention the points which drive or suppress developing electric vehicles. Also mention what role should government play in developing vehicles?

Expert Solution & Answer

Explanation of Solution

The marketplace dynamics which drive the developing of electric vehicles are:

High demand for electric cars would reduce the manufacturing costs.
Research and innovation which makes electric cars more competing with fuel cars.
Government promoting the use of electric cars.

The marketplace dynamics which suppress the developing of electric vehicles are:

High price of electric cars suppress the demand for electric cars.
High manufacturing costs involved in making of electric cars.
Tough competition with fuel cars.

The government must promote the production of electric cars by providing some types of economic incentives like providing them subsidy on the production of each electric car produced or giving them tax credit. It can also give tax credit to the consumers who use electric cars as it would decrease the carbon emissions and make the environment better.

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A firm operates with the production function Q = K2 L. Q is the number of units of output per day when the firm rents K units of capital and employs L workers each day. The manager has been given a production target: to produce 8,000 units per day. She knows that the daily rental price of capital is $400 per unit and the wage rate is $200 day. a. What is the returns to scale of this production function? Show mathematically. b. Currently the firm employs 80 workers per day. What is the firm’s daily total cost if it rents just enough capital to produce at its target? c. Compare the marginal product per dollar spent on K and on L when the firm operates at the input choice in part (b). What does this suggest about the way the firm might change its choice of K and L if it wants to reduce the total cost in meeting its target? Explain your answer very clearly. d. In the long run, how much K and L should the firm choose if it wants to minimize the cost of producing 8,000 units of output a day?…

Answer 2

Question

Chapter 1, Problem 1QTC

To determine

Mention the points which drive or suppress developing electric vehicles. Also mention what role should government play in developing vehicles?

Expert Solution & Answer

Explanation of Solution

The marketplace dynamics which drive the developing of electric vehicles are:

High demand for electric cars would reduce the manufacturing costs.
Research and innovation which makes electric cars more competing with fuel cars.
Government promoting the use of electric cars.

The marketplace dynamics which suppress the developing of electric vehicles are:

High price of electric cars suppress the demand for electric cars.
High manufacturing costs involved in making of electric cars.
Tough competition with fuel cars.

The government must promote the production of electric cars by providing some types of economic incentives like providing them subsidy on the production of each electric car produced or giving them tax credit. It can also give tax credit to the consumers who use electric cars as it would decrease the carbon emissions and make the environment better.

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Answer 3

Question

Chapter 1, Problem 1QTC

To determine

Mention the points which drive or suppress developing electric vehicles. Also mention what role should government play in developing vehicles?

Expert Solution & Answer

Explanation of Solution

The marketplace dynamics which drive the developing of electric vehicles are:

High demand for electric cars would reduce the manufacturing costs.
Research and innovation which makes electric cars more competing with fuel cars.
Government promoting the use of electric cars.

The marketplace dynamics which suppress the developing of electric vehicles are:

High price of electric cars suppress the demand for electric cars.
High manufacturing costs involved in making of electric cars.
Tough competition with fuel cars.

The government must promote the production of electric cars by providing some types of economic incentives like providing them subsidy on the production of each electric car produced or giving them tax credit. It can also give tax credit to the consumers who use electric cars as it would decrease the carbon emissions and make the environment better.

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Answer 4

Question

Chapter 1, Problem 1QTC

To determine

Mention the points which drive or suppress developing electric vehicles. Also mention what role should government play in developing vehicles?

Expert Solution & Answer

Explanation of Solution

The marketplace dynamics which drive the developing of electric vehicles are:

High demand for electric cars would reduce the manufacturing costs.
Research and innovation which makes electric cars more competing with fuel cars.
Government promoting the use of electric cars.

The marketplace dynamics which suppress the developing of electric vehicles are:

High price of electric cars suppress the demand for electric cars.
High manufacturing costs involved in making of electric cars.
Tough competition with fuel cars.

The government must promote the production of electric cars by providing some types of economic incentives like providing them subsidy on the production of each electric car produced or giving them tax credit. It can also give tax credit to the consumers who use electric cars as it would decrease the carbon emissions and make the environment better.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 1, Problem 1QTC

To determine

Mention the points which drive or suppress developing electric vehicles. Also mention what role should government play in developing vehicles?

Expert Solution & Answer

Explanation of Solution

The marketplace dynamics which drive the developing of electric vehicles are:

High demand for electric cars would reduce the manufacturing costs.
Research and innovation which makes electric cars more competing with fuel cars.
Government promoting the use of electric cars.

The marketplace dynamics which suppress the developing of electric vehicles are:

High price of electric cars suppress the demand for electric cars.
High manufacturing costs involved in making of electric cars.
Tough competition with fuel cars.

The government must promote the production of electric cars by providing some types of economic incentives like providing them subsidy on the production of each electric car produced or giving them tax credit. It can also give tax credit to the consumers who use electric cars as it would decrease the carbon emissions and make the environment better.

Answer 6

Chapter 1, Problem 1QTC

To determine

Mention the points which drive or suppress developing electric vehicles. Also mention what role should government play in developing vehicles?

Expert Solution & Answer

Explanation of Solution

The marketplace dynamics which drive the developing of electric vehicles are:

High demand for electric cars would reduce the manufacturing costs.
Research and innovation which makes electric cars more competing with fuel cars.
Government promoting the use of electric cars.

The marketplace dynamics which suppress the developing of electric vehicles are:

High price of electric cars suppress the demand for electric cars.
High manufacturing costs involved in making of electric cars.
Tough competition with fuel cars.

The government must promote the production of electric cars by providing some types of economic incentives like providing them subsidy on the production of each electric car produced or giving them tax credit. It can also give tax credit to the consumers who use electric cars as it would decrease the carbon emissions and make the environment better.

Answer 7

Chapter 1, Problem 1QTC

To determine

Mention the points which drive or suppress developing electric vehicles. Also mention what role should government play in developing vehicles?

Answer 8

Expert Solution & Answer

Explanation of Solution

The marketplace dynamics which drive the developing of electric vehicles are:

High demand for electric cars would reduce the manufacturing costs.
Research and innovation which makes electric cars more competing with fuel cars.
Government promoting the use of electric cars.

The marketplace dynamics which suppress the developing of electric vehicles are:

High price of electric cars suppress the demand for electric cars.
High manufacturing costs involved in making of electric cars.
Tough competition with fuel cars.

The government must promote the production of electric cars by providing some types of economic incentives like providing them subsidy on the production of each electric car produced or giving them tax credit. It can also give tax credit to the consumers who use electric cars as it would decrease the carbon emissions and make the environment better.