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The population of an island is tripling every  years. If the current number of people living there is , what will be its approximate population  year from now?

Suppose that in an attempt to induce citizens to conserve energy, the government enacted regulations requiring that all air conditioners be more efficient in their use of electricity. After this regulation was implemented, government officials were then surprised to discover that people used even more electricity than before.

• Using the concept of price elasticity, explain how this increase might have occurred.

What are the features of money?

. A monopolist faces the following demand and cost schedules:

Price

Qty

Total cost

20

7

36

19

8

45

18

9

54

17

10

63

16

11

72

15

12

81

1. How much output should the monopolist produce?
2. What price should the firm charge?

iii. What is the maximum amount of profit that this firm can earn?

Alternative A. Build a coal-powered generating facility at a cost of $20,000,000. Annual power sales are expected to be $1,000,000 per year. Annual operating and maintenance costs are $200,000 per year. A benefit of this alternative is that it is expected to attract new industry, worth $500,000 per year, to the region.

Alternative B. Build a hydroelectric generating facility. The capital investment, power sales, and operating costs are $30,000,000, $800,000, and $100,000 per year, respectively. Annual benefits of this alternative are as follows:

Explain what is central Fact of economics