are tremendous. The first possible benefit is cost saving on fuel purchased each year. The cost saving is potentially a winfall for Lotus and customers needing incentive for converting to AFV/FFV. If you use a national average‚ figure of $3.35 a gallon for unleaded fuel. Typically‚ having an AFV/FFV using E85 will save you $1‚700 in fuel cost each year. The second benefit is the environment. E85 is made with a gasoline-ethanol blend containing 51% to 83% ethanol depending on geography and season
Premium Petroleum Renewable energy Automobile
Topic 4: Externalities‚ Pollution and Global Warming ECON 1210B Economics and Society 1 Introduction Recall: Markets are usually a good way to organize economic activity In the absence of market failures‚ the market outcome is efficient‚ maximizes total surplus One major type of market failure: externalities Externality: the uncompensated impact of one person’s actions on the well-being of a bystander 2 Externalities and Efficiency In the presence of externality‚ market equilibrium
Premium Externality Market failure Pigovian tax
the most effective ways of extracting natural gas from the earth. It yeilds 300‚000 barrels of natural gas a day‚ but at the price of numerous environmental‚ safety‚ and health hazards. . It’s an extremely water-intensive process where millions of gallons of fluid – typically a mix of water‚ sand‚ and chemicals‚ including ones known to cause cancer‚ are injected underground at high pressure to fracture the rock surrounding an oil or gas well. What Fracking is: Explain the process drill
Premium Hydraulic fracturing Oil well Natural gas
John Kroeger FINA 470 Baker Adhesive Case March 22‚ 2012 1. How profitable is the original sale to Novo once the exchange-rate changes are acknowledged? How has the exchange-rate risk‚ which affected the value of the order‚ been managed? In the original order‚ Nova was billed BRL 104‚338.30 for their purchase. After the exchange of currency from BRL to U.S. dollars‚ Baker was estimated to receive $48‚371.24 (104‚338.30 * .4636). This means that Baker brought in $55‚967.06 less from their
Premium Currency United States dollar Foreign exchange market
reduction of green house gases. Lastly‚ I will discuss the controversy of taking food stock away from the food supply chain and turning it into fuel‚ causing possible increases in global food prices. Currently the United States imports 317 billion gallons of oil from around the world each year (http://tonto.eia.doe.gov/ask/crudeoil_faqs.asp). This is a major threat to our security because our commerce‚ defense‚ and livelihood depend on foreign oil. Because of the current wars in the Middle East‚ and
Premium Biofuel Ethanol fuel Petroleum
Name ________________________________________________ ECON 2101 - Principles of Macroeconomics‚ Spring 2009 - Test 1 VERSION B KEY Multiple Choice (2.5 points each) Choose the response that best answers the question or completes the statement. Make sure you put all of your responses on the opscan form. 1. Suppose that a more efficient way to produce a good is discovered‚ thus lowering production costs for the good‚ ceteris paribus. This will cause a(n): a) Increase in quantity supplied
Premium Economics Supply and demand
to the International Bottled Water Association ‚May 21‚ 2012‚ each year‚ water bottle consumption increases by 3 to 4 %. In 2011‚ total U.S. bottled water consumption increased to 9.1 billion gallons‚ up from 8.75 billion gallons in 2010‚ ‚ with every person in America now drinking an average of 29.2 gallons of bottled water last year. While all other major beverage categories such as carbonated soft drinks‚ milk‚ and fruit beverages continue to suffer declines in consumption‚ bottled water rates
Premium Drinking water Bottled water Water
Government’s Role in Economic Efficiency Law and Economic Efficiency Criminal Law | Prohibits actions that harm others. E.g.‚ theft‚ robbery‚ fraud‚ assault and murder | Shifts behaviour away from harmful activities toward Pareto-improving activities. | Contract Law | Establishes rules for writing and enforcing contracts and penalties for failure to fulfil. | Enables Pareto Improvements involving future promises‚ such as financial contracts or work performed by employees. | Property Law |
Premium Externality Market failure Public good
purchased 800 gallons of Gino’s olive oil to test the market potential. Because the mission of the organization is to provide the highest quality‚ best tasting olive oil on the market‚ only Ambrano’s olive oil may be used for this venture. For personal reasons‚ Ambrano is only willing to press about 6000 gallons of olive oil for 1994. Of the 6000 gallons‚ 210 will be lost during the bottling process leaving 5790 gallons to be filled into 750-milliliter bottles. With 3.7853 liters to a gallon‚ production
Premium Olive oil
In 1860s post-U.S. Civil War Texas‚ Jim Coates (Fess Parker) leaves home to work on a cattle drive‚ leaving behind his wife Katie (Dorothy McGuire)‚ older son Travis (Tommy Kirk) and younger son Arliss (Kevin Corcoran). While Jim is away‚ Travis sets off to work in the cornfield‚ where he encounters "Old Yeller" (Spike)‚ a Labrador Retriever/Mastiff mix. He was called that because "yeller" is a dialect pronunciation of yellow and the fact that his bark sounds more like a human yell. Travis unsuccessfully
Premium English-language films The Animals Pig