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Energy usage in relation to carrying capacity for pipeline transportation mode is usually ______.

Select one:

A. high

B. low

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Question 8

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Which of the following statements is false with regards to pipeline transportation?

Select one:

A. Transportation by pipeline is the preferred way of transportation for natural gas and liquid petroleum

B. Transportation by pipeline usually insensitive to surface conditions

C. Transportation by pipeline is slower than by rail or truck

D. Transportation by pipeline is more expensive than by rail or truck

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Question 9

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Canada is the fourth largest producer of oil in the world. Which of the following countries is the major export customer for Canadian crude oil?

Select one:

A. Japan

B. India

C. China

D. The United States

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A document of record produced and sent electronically by carrier to report the quantity of crude oil or other hydrocarbons delivered for custody transfer is known as:

Select one:

A. packing slip

B. material safety data sheet

C. bill of lading

D. delivery ticket

 
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Steve’s utility function is U = BC, where B = veggie burgers per week and C = packs of cigarettes per week. Here, MUB = C and MUC = B. What is his marginal rate of substitution if veggie burgers are on the vertical axis and cigarettes are on the horizontal axis? Steve’s income is $120, the price of a veggie burger is $2, and that of a pack of cigarettes is $1. How many burgers and how many packs of cigarettes does Steve consume to maximize his utility? When a new tax raises the price of a burger to $3, what is his new optimal bundle? Illustrate your answers in a graph. In a related graph, show his demand curve for burgers with after-tax price on the vertical axis and show the points on the demand curve corresponding to the before- and after-tax equilibria. (Hint: See Appendix 4B.)

 
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Ben swims 50,000 yards per week in his practices. Given this amount of training, he will swim the 100- yard butterfly in 52.6 seconds and place tenth in a big upcoming meet. Ben’s coach calculates that if Ben increases his practice to 60,000 yards per week, his time will decrease to 50.7 seconds, and he will place eighth in the meet. If Ben practices 70,000 yards per week, his time will be 49.9 and he will win the meet.

a. In terms of Ben’s time in the big meet, what is his marginal productivity of the number of yards he practices? Is there diminishing marginal productivity of practice yards?

b. In terms of Ben’s place in the big meet, what is his marginal productivity of the number of yards he practices? Is there diminishing marginal productivity of practice yards? c. Does Ben’s marginal productivity of the number of yards he practices depend on how he measures his productivity, either place or time, in the big meet?

 
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From the ninth century B.C. until the proliferation of gunpowder in the fifteenth century A.D., the ultimate weapon of mass destruction was the catapult (John N. Wilford, “How Catapults Married Science, Politics and War,” New York Times, February 24, 2004, D3). As early as the fourth century B.C., rulers set up research and development laboratories to support military technology. Research on improving the catapult was by trial and error until about 200 B.C., when the engineer Philo of Byzantium reports that by using mathematics, it was determined that each part of the catapult was proportional to the size of the object it was designed to propel. For example, the weight and length of the projectile was proportional to the size of the torsion springs (bundles of sinews or ropes that were tightly twisted to store enormous power). Mathematicians devised precise tables of specifications for reference by builders and by soldiers on the firing line. The Romans had catapults capable of delivering 60-pound boulders at least 500 feet. (Legend has it that Archimedes’ catapults used stones that were three times heavier.) If the output of the production process is measured as the weight of a projectile delivered, how does the amount of capital needed vary with output? If the amount of labor to operate the catapult did not vary substantially with the projectile’s size, what can you say about the marginal productivity of capital and returns to scale?

 
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