You can download the solution to the following question for free. For further assistance in Economics assignments please check our offerings in Accounting assignment solutions. Our subject-matter experts provide online assignment help to Accounting students from across the world and deliver plagiarism free solution with free Grammarly report with every solution.
(ExpertAssignmentHelp does not recommend anyone to use this sample as their own work.)
Task
You have been asked to investigate whether energy-saving light globes have lower total costs than standard globes.
Steps to complete to undertake the investigation
to complete the table below. Use the Internet or get these values from a
local supermarket.
Type of light-globe | Purchase price | Equivalent Wattage |
Energy-saving | ||
Regular |
Relevant information:
∙ Assume that electricity for a standard house costs 25.38 cents per kiloWatt hour (kWH) ∙ It is estimated that electricity usage in Australia was 10 712.18 kWH per capita.
MAT10706 Assessment 2: Project Session 1 2017 4
Task
Costs for an airline have increased by $80 per passenger. To compensate for this, they are introducing a fuel surcharge of $100 per passenger. Your task is to determine the consequences of the surcharge.
The supply and demand equations are given by;
∙ Demand Equation: �� = 1500 − 10����
∙ Supply Equation: �� = 0.0001��2 + 2���� + 200
where qis the number of passenger flights (in thousands per year) andpis the market price in dollars.aandbare coefficients to be chosen below.
Steps to complete to undertake the investigation
Before
surcharge |
After
surcharge |
Difference | |
Equilibrium quantity | |||
Equilibrium price: consumer pays | |||
Equilibrium price: airline receives (without any surcharge) | |||
Revenue airline receives from route (without any surcharge) | |||
Revenue airline receives from surcharge |
Summarise your findings in 200 words. In your conclusion
c. Note any assumptions you have made and any limitations of your findings.
Review your requirements with our FREE Assignment Understanding Brief and avoid last minute chaos.
We provide you services from PhD experts from well known universities across the globe.
No more plagiarism worries. We give you a FREE Grammarly report with every assignment.
Our experts work round the clock to provide you with solutions before the scheduled deadline.
Real Cost of Lighting Your Home: Most of the time, we overlook the cost of lights to run. In this study, an attempt has been made to do the analysis of different types of light bulbs or Gloves. For the sake of this study, only two different types of light bulbs are considered.
Energy-saving bulbs like CFL, LED has high installation cost as compared to the regular ones. But the watt usage of these bulbs is quite less as compared to the regular one.
An Incandescent bulb (Regular bulbs) usually comes with 60 watts with a price of $2-$3. At the same time, a CFL bulb ranges from 8 watts to 40 watts. A CFL bulb with 8 watts (which is equivalent to 60 watts in terms of luminosity of regular bulbs) costs $8-$10.
The information for the average prices for the energy-saving and regular gloves can be found in the Reference Section.
Table -1 provides information on a different type of light bulbs based on Australian Market Price,
Type of Light-Glove | Purchase Price ($) | Equivalent Wattage |
Energy-Saving (CFL) | 8 | 15 |
Regular (Incandescent) | 3 | 60 |
Table – 1
Equation for Total Cost (Rubinfeld, 2013)for Energy Saving Gloves, …. (1)
Similarly, the total cost equation for Regular gloves can be written as, …. (2)