Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Management Information System Expert

Answer the following problems

1. On Wednesday the 16th, 2008 huge avalanche knocked out the lines which transmitted electricity from a hydroelectric dam to Juneau, Alaska.  This eliminated Juneau’s main source of electrical power, and took over three months before power from the hydroelectric dam was restored.

• Prices for electricity in Juneau jumped from 11 cents per kilowatt hour (kwh) to 52 cents per kwh.  Electricity consumption instantly dropped from an average of 1600 kwh per month per household, to 1280 kwh.

• cross-price elasticity of demand for electricitywith respect to fuel oil is 0.32

• income elasticity of demand for electricity in Juneau is 0.23

a. Determine the price elasticity of demand for electricity in Juneau?

b. Over the 11 cents/kwh to 52 cents/kwh range of electricity prices, is demand for electricity inelastic or elastic?  Based on this information, do you believe that Alaska Electric Light and Power Co. saw the increase or a decrease in revenue?  Describe.

c. Are fuel oil and electricity substitutes or complements?  If electricity consumption finally declined by 25%, what do you expect occurred to fuel oil consumption?

d. This avalanche imposed great hardship on Juneau citizens for approximately three months, including some job losses.  What do you expect occurred to electricity demand given that income of the average Juneau resident declined by 3%?

Management Information System, Management Studies

  • Category:- Management Information System
  • Reference No.:- M91713

Have any Question? 


Related Questions in Management Information System

Data communication and web 20bulldescribe the key

"Data Communication and Web 2.0" • Describe the key components of a data communication system. Next, discuss the overall manner in which a company uses data communication in order to reduce its operations cost. Include o ...

As the new manager of a convenience store you have noticed

As the new manager of a convenience store, you have noticed issues with the manual method of tracking sales using paper sales tickets and spreadsheets, as well as, shortages on some of the more popular items carried in t ...

Term paper planning an it infrastructure audit for

Term Paper: Planning an IT Infrastructure Audit for Compliance Note: Chapter 5 of the required textbook may be helpful in the completion of the assignment. The audit planning process directly affects the quality of the o ...

Social media platforms and your careerwrite a 350- to

Social Media Platforms and Your Career Write a 350- to 700-word summary describing using three different social media platforms with the objective of networking within your career field. Use your current social media acc ...

Quick discussionbullhow important is hci for nontechnical

Quick Discussion • How important is HCI for nontechnical individuals? • Identify an app on your phone or a piece of software on your computer, describe it, and explain its current basic HCI for users. • Suggest one chang ...

Assignment designing ferpa technical safeguardsimagine you

Assignment: Designing FERPA Technical Safeguards Imagine you are an Information Security consultant for a small college registrar's office consisting of the registrar and two assistant registrars, two student workers, an ...

Assignmentthe design of your research should now be

Assignment The design of your research should now be completed, and you are ready for the execution phase. This is a key step in the research process and should result is meaningful, measurable, and useful information th ...

Comparing different types of computer systemscomputers come

COMPARING DIFFERENT TYPES OF COMPUTER SYSTEMS Computers come in varying sizes and levels of power and performance. Use the Web to find out about computer system configurations. Do some comparison shopping for three types ...

A firm is considering the development of severalnew

A firm is considering the development of severalnew products. The products under consideration are listed in the next table. Products in each group are mutually exclusive. At most, one product from each group will be sel ...

Assignment analyzing interpersonal relationships amp

Assignment: Analyzing Interpersonal Relationships & Conflict Styles Part I: Review the Skill Development Experience on page 152 of your textbook. For the four questions provided, write a concise reflection for each quest ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro