Factors that contributed to the California electricity crisis included: a) Ceilings on retail prices of electricity by High prices for natural gas c) Weather related shortfalls from hydroelectric power d) All of the above 5. Which of the following energy sources currently generates the most electricity in the U.S.? a. Natural gas b. Coal c. Nuclear energy d. Petroleum 6. Which of the following statements is correct; a. In the U.S., industry currently produces more greenhouse gas emissions than transportation b. More than 20% of worldwide electricity is currently generated using coal c. Electricity generation and heat production contribute the most to global annual greenhouse emissions d. Hydropower provides more than 20%% of electricity generated in the U.S. 7. Which of the following would be classified as a prevention type sediment management option for dams? a. Upstream watershed management b. Hydrosuction Removal System (HSRS) c. Dredging d. Flushing Dams and nuclear power plants share the following characteristics: a. Electricity generation is their only purpose b. Waste disposal is not a concern c. They have high set-up and removal costs d. All of the above 9. The country that generates the highest percentage of its own electricity from nuclear energy is: a. China b. France c. United States 10. Nuclear reactors used for electricity generation in the U.S. are: a. Major sources of air pollution that contributes to global warming b. Located mostly in the Western part of the country c. Currently producing more than half of the country's electricity d. Reliant heavily on imported uranium as fuelDepartment of Agricultural and Resource Economics University of Connecticut Fell 2023 ARE 4444 - QUIZ #4 Please select the best answer for each of the following ten multiple-choice questions (10 points for each question). The diagram below depicts the market for electricity in a region. Use this diagram to answer questions 1 and 2. Price (S/thousand KWH) 100 70 60 50 AC 40 -MC " MR D 0 30 40 50 70 Quantity (million KWH per day) 1. Assume that the market supplier of electricity shown in the diagram above is a profit maximizing unregulated natural monopolist. In this case, the market price of electricity charged by the firm is: a) $40/thousand KWH and the quantity sold is 70 million KWI per day b) $50/thousand KWH and the quantity sold is 50 million KWH per day ") $60/thousand KWH and the quantity sold is 40 million KWH per day i'd) $70/thousand KWH and the quantity sold is 30 million KWH per day Z. Now suppose that the above firm is to be operated as a regulated natural monopolist. Then, the per unit subsidy needed to keep this firm in business is: a) $10/thousand K.WH and the quantity sold is 70 million K.WH per day b) $10/thousand KWH and the quantity sold is 50 million KWH per day c) $20/thousand K.WH and the quantity sold is 40 million KWH per day 1) $20/thousand KWH and the quantity sold is 30 million KWH per day 3. Peak-load pricing of electricity is used to: a) Address environmental concerns b) Charge lower prices to low income consumers c) Avoid shortages during times of high demand d) Practice price discrimination between residential and industrial consumers