Use the case of electrical power generation to explain why the energy resource inputs that are used are sometimes low-cost and other times high-cost
What will be an ideal response?
One of the interesting aspects of energy efficiency is that it involves using a mix of energy inputs, some of which are more expensive than others. Electrical power generation provides an illustration of this point. An electric plant faces varying demands for power during the day and night. To meet these varying demands, electric companies will build a large plant that requires high fixed costs to build, but produces energy at a low price when it is fully operational and meets most of peak consumer demand. To supplement its energy production for peak demand periods, instead of building another large plant, it will build a smaller plant that has a lower fixed cost to build, but which produces energy at a higher cost.
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The public choice model assumes that government policymakers
A) must promote the public interest at the expense of their own self-interests in order to be re-elected. B) will pursue their self-interests in personal affairs but only if it does not conflict with the public interest. C) are likely to pursue their own self-interests, even if their self-interests conflict with the public interest. D) will often act irrationally in their personal affairs, but will act rationally when they promote the public interest.
In the U.S., the following agencies have the right to examine the bank's books
A) Fed and the FDIC. B) FDIC and the Office of the Comptroller of the Currency. C) Fed and the Department of Commerce D) FDIC, Fed and the Office of the Comptroller of the Currency. E) Only the Fed.