(1 point) Suppose that in order to remove x% of the pollution from an oil spill,...
Nature can play a large role in removing pollution from the environment. For example, oil-eating microbes were used to help clean up the 2010 oil spill in the Gulf of Mexico C. Suppose that ten tons of pollutants are dumped into a bay, and that microbes remove 20% of the pollutants in the bay each day. Let an denote the number of tons of pollutants in the bay on day n. That is, ai 10, a2 = 10(0.8) and so...
4. In order to meet pollution standards, oil refineries remove trace amounts of sulfur from the crude oil. This sulfur is often in the form of H2S and SO2. A process has been suggested to convert these compounds into sulfur and water using the following reaction: 2H,ste)+S0,(g)- 3s6)+2H,og) A schematic of the facility is shown below. Due to the difficulty (and cost) of achieving high purity, the input streams (Fi and F2) both contain significant concentrations of CO2. The input...
Case 5-1 Accounting for BP P:C's Deep water Horizon Oil Spill Case 5-1 Accounting for BP PLC’s Deepwater Horizon Oil Spill On April 20, 2010, an explosion at BP PLC’s Macondo well in the Gulf of Mexico caused the largest oil spill and one of the worst environmental disasters in U.S. history. Because the incident occurred at the Deepwater Horizon drilling rig, this incident is often referred to as the Deepwater Horizon spill. Approximately 4.9 million barrels of oil were...
Question 12 (1 point) Saved Suppose a small island near the Middle East produces oil, which is extracted from the ground, and olive oil, from all of the olives grown on the island. The information in the following table shows the amount of oil, olive oil, and olives produced in 2008, 2018, and 2019. Calculate real GDP for 2019 using 2008 as the base year for the calculations. Provide your answer in dollars rounded to two decimal places. Do not...
Consider world consisting of two trading entities: the US and the EU. The EU is the exporter of cheese to the US and the importer of oil from the US. Assume the world price of both cheese and oil are set in terms of dollars ($). Also assume that there is no barriers or restrictions on trade for either good. Also assume that the entire exchange between the US and EU is made of trade account transactions and that there...
1) Suppose the Marginal Benefit and Marginal Cost for crude oil at any given period is: M B = 159 − 2.1 Q a n d M C = 36 + 0.9 Q 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) 2) Now,...
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you answer two of the questions in the phot please.
1. The point P(4. 8) lies on the curve y-(6-x), Suppose Q is the point (x,1 + (6-x)'). a. Find the slope of the secant line PO for the following values of x. 3. 3.99 4. 3.999 6. 4.1 7. 4.01 8. 4.001 the curve at P b. Use your results from part a to make a guess of the slope of the line tangent to c. Use your...
Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.001 x cubed plus 0.07x squared + 18x + 7000 and currently 90 chairs are produced monthly. a) What is the current monthly cost? b) What would be the additional cost of increasing production to 92 chairs monthly? c) What is the marginal cost when x=90? d) Use the marginal cost to estimate the difference in cost between producing 90 and 92 chairs per month e) Use the...
Penne Pesto is a small restaurant in the financial district of San Francisco. Customers order from a variety of pasta dishes. The restaurant has 80 seats and is always full during the four hours in the evening. It is not possible to make reservations at Penne; most guests show up spontaneously on their way home from work. If there is no available seat, guests simply move on to another place. On average, a guest spends 87 minutes in the restaurant,...
1. Consider the market for new cars. e. Suppose the U.S. Environmental Protection Agency announces it will require new light trucks and sport utility vehicles (SUVs) to install pollution control devices that will increase their cost. How will the supply and demand curves (if either) for cars be affected? (Assume cars and SUVs are considered different goods.) What will happen to the equilibrium price and quantity of cars? f. Consider the difference between the short run of a few days...