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Using the following assumptions calculate the marginal cost of both a simple cycle and combined cycle gas generator: Simple Cycle hear rate (GJ/MWh) 10 Simple Cycle Variable 0&M (S/MWh) $3.50 Combined Cycle heat rate (GJ/MWh) 7 Combined Cycle Variable O&M (S/MWh) $5.00 Gas Price (S/GJ) $3.00 Tonnes of C02 per GJ 0.051 Carbon Price (S/Tonne of C02) $20.00 a) What is the variable cost of a simple cycle and combined cycle plant? b) What do the differences in variable cost suggest about each technology's capacity factor? c) What would happen if carbon prices when to Sl70/tonne? d) How do you think a Sl70/tonne carbon price would impact electricity prices