1. Consider the intertemporal allocation of a non-renewable natural resource.

(a) Describe the (marginal) conditions that a dynamically efficient allo cation must satisfy, carefully describing the relevant opportunity cost of a resource unit at a given period (including both extraction and user costs).

(b) Will the intertemporal allocation of the resource by a perfectly competitive market be dynamically efficient? Why?

(c) Focusing on the case in which the marginal cost of extraction is 0, argue that the intertemporal price path will satisfy the Hotellings Rule, relying on a no-arbitrage argument to justify it. Will the corresponding path of quantities extracted increase or decrease over time?

(d) Based on the Hotellings Rule, we might expect the price of non renewable resources to increase continually over time, as resource stocks are depleted. However, empirical evidence for a number of mineral resources suggests that prices have not been increasing monotonically over the past century. Try to explain this apparent anomaly between theory and observation.

SOLVE ALL QUESTIONS CORRECT AND CLEAR I GONNA VOTE UP 1. Give and draw the pdf and cdf of a uniform random variable X. Find the mean and the variance of X. 2. Give the pdf and cdf of an exponential random variable X. 3. Give the pdf, cdf, and Q function of a standart Gaussian random variable X. (unit variance, mean zero) 4. Give the Markove and Chebyshev inequalities. 5. Give the moment generating function and characteristic function of a random variable X. How can the moments be found from the moment generating function and characteristic function?Most of the back-end of the program has already been written. Amongst other things, the following variable has been created: window = Tk{) The following widgets have also been created: image_display # label to display the image buttonVertical # button to flip the image in the label vertically buttonHorizontal # button to flip the image in the label horizontally YOUR TASK is to arrange the widgets in the GUI by completing the code below. buttonVertical.grid( Y } buttonI-Iorizontal.grid( 'l' ) Utilitarianism is: A theory from moral philosophy that argues that an act is right if it serves to maximize the attainment of human satisfaction. OA theory from moral philosophy that argues that profit and financial well-being are important parts of evaluating an ethical situation and should not be ignored or dismissed. A theory from moral philosophy that argues that we should always choose the action that will best benefit us as individuals Question 4 2.5 pts The author, Kelman, analyzes cost-benefit analysis through the lens of ethical theory. He argues for three conclusions. Which of the following IS NOT one of Kelman's conclusions? O In areas of environmental, safety. and health regulation, there may be many instances where a certain decision might be right even though its benefits do not outweigh its costs. Of Given the reasons why it is problematic to monetize non-marketed benefits or costs that is a prerequisite for cost-benefit analysis, it is not justifiable to devote major resources to the generation of data for cost-benefit calculations or to undertake efforts to further promote cost-benefit analysis. Getting decision-makers to make more use of cost-benght techniques is important enough to warrant both the expense required to gather the data for improved cost-benefit estimation and the political efforts needed to give the activity higher priority compared to other activities, (): There are good reasons to oppose efforts to put dollar values on on-marketed benefits and costs,3 Question 97/100 Attempts Correct Antibodies are composed of two types of peptides, heavy chains and light chains. One of the major classes of antibody molecules is immunoglobulin G (IgG). Two heavy chains and two light chains form 4 Question 100/100 IgG molecule. of no Attempts Comect Classify each statement as describing the heavy chains, light chains, or both chains of IgG. )5 Question 100/100 of Attempts Correct Heavy chains Light chains Both chains 36 Question 94/100 Comrect are found in the Fab fragment contain multiple constant domains 27 Question 96/100 of so Attempts Connect are found in the Fo fragment contain only one constant domain form the antigen-binding site @ : Question 100/100 1 of Attempts Comect contain only one variable domain contain multiple variable domains 29 Question 100/100 1 of Attempts Comeci Answer Bank ()10 Question 100/100