...BUSINESS ECONOMICS ECON545 JULY 2013 SESSION CHAPTER 15 QUESTION 14. Everyone’s Gas Problem When we discuss fluctuating gas prices, we have multiple reasons why this may occur. To begin, the price of gas could rise and fall due to breaks in the distribution. An example of the breaks in distribution could be a hurricane in areas of supply or an up rise or political upheaval in an area like Libya. Second, we can look at how close you are to a particular area of the US that would be near oil production or proximity. Third would be competition. How many stations are supplying gas in a certain area or region? As we get closer to a city like Chicago, prices may increase because of higher taxes. “According to the EIA, every time you pay for a gallon of gas, you are not only paying for the price of crude oil (61% of cost), but also federal and state taxes (15%), refining costs and profits (15%) and distribution and marketing (10%).” This is a classic case of supply and demand in economics which relates to the chapters we have discussed. Upon reading about gas and crude oil, I have learned that there are different types of oil. Light/ sweet oil is in high demand because it takes less time to refine into gas which in turn results in faster production. The price of light oil is higher because the supply is low. Heavier/ sour crude oil takes less production and is more readily available in turn the price is low. “Chicago, like most big cities, is required by the federal Environmental...
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...Exercise 1: Question 1 Everyone’s Gasoline Problem Due to the supply and demand, gasoline has become a very dependant aspect of our lives. Supply is the amount of product available on the market and demand is how of the product is demanded by the consumers. In this respect, when demand increases so do the prices and supply decreases and when demand decreases, prices go down and supply will then increase. Through observing and researching, it shows that they are just as important in maintaining market equilibrium. Therefore retailers of wholesale products impact the economy when they increase prices such as what is being done with the gasoline at this time. Gas prices have seen some fluctuations over the past twelve months with a steady increase happening over the past six months in the state of Virginia and I’m sure the entire nation has seen the same. These fluctuations have been due to the economical crisis throughout the world. Some attribute the conflict in Iraq as the main problem. Other causes can stem from natural disasters, or political ties among leaders. In researching the price history of crude oil, it has fluctuated between $72 to $113 between January of 2011 and January 2012. However within that same time period Virginia’s prices fluctuated from $2.99 to $3.93 with the highest price being May of 2011. Seeing the prices on a continuous roller coaster can prompt consumers to be more mindful of their travel intentions. As consumers however, it is difficult for...
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...Smart Everyone’s Gasoline Problem We are all familiar with fluctuating prices of gasoline at the pump. Supply and demand is a major factor causing price fluctuation at the pump. The law of demand states all else being equal, as price falls, the quantity demanded rises, and as the price rises, the quantity demanded falls. This is an inverse relationship. If this statement was true concerning fuel then the consumer demand for fuel would decrease as the price increases. Obviously it is not. Supply must also be taken into account. The law of supply states that as prices rise, the quantity supplied rises, as price falls the quantity supplied falls. If demand rises or a disruption of supply occurs; pressure will be placed on the price. The inverse is also true, if a surplus exists or demand falls less pressure will be put on the price. Competition between retailers could cause prices to fluctuate. If competition does not exist and the retailer is the only player for miles the price may be higher. Oil, gold, wheat and other products are traded on a world market. The price of oil has risen because of its demand around the world. The unrest and war in Iraq and other oil producing countries has also driven prices to an all-time high of 101.5 per barrel for March 2008. The determinate of change in resource price has shifted the supply curve to the left. The increase in the price of oil reduces the supply of gasoline. The average price for gas in North Carolina is back above $3...
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...Gasoline is one of the most widely used natural resources around the world. If gas prices were to rise the price of gas in Europe would be approximately five dollars a gallon, an all-time high. In America we would find ourselves in a difficult predicament because we use gas in our vehicles for transportation, to power our stoves for cooking, and to heat homes. Many people will eventually end up in poverty. A mass majority of Americans have to commute daily to get to their job. At five dollars a gallon Americans would be forced to find alternative transportation or change where they live relative to their jobs to save on commuting costs. Many cities whose economies rely on tourism would take a big hit with higher gas prices because people would rather save money by vacationing to a place closer to where they live. Not being able to drive at your own leisure will cause frustration to those who do not enjoy sitting in their home and enjoy traveling. Our number one source of energy for survival is food. When gas prices spike so does the price of food. Not only do we use gas to power our stoves and grills but farmers use it for their machinery and factories that process and deliver our food. Going out to dinner will be a lot more costly than it should be, it will cost extra money to commute across town and with less people willing to do that it will run many businesses into the ground. With jobs being thrown away left and right people will slowly end up in poverty. The first...
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... temperature and environment. Since the stresses (pressures) required for the initiation of URCP are very small, the effect of predicting failures are very hard which leads to the URCP phenomenon resulting in more catastrophic failures. The characteristic of the crack follows a sinusoidal crack path with hackle marks that indicate the direction of the crack in the longitudinal crack path. Often times a crack may split in to more than one branch. Figure #2: URCP Crack Historical Issues As mentioned previously since the use of PE tubes & pipes has been a large part of the industry, the URCP phenomenon is becoming a more and more common problem in the industry. Over the course of a couple of decade the following issues have been documented. * In October 1985, an incident related to URCP occurred in a PE gas system which was reported in Szeged (Hungary) over a length of 700 m. Other long running cracks were also observed on the tubes & pipesline system. The crack was initialed at the time of installation. * In 1989, an incident occurred in Antwerp (Belgium), a rapid crack occurred in a PE water tubes & pipesline system. The crack...
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...Gas laws apply in many everyday activities and daily necessities including air travel and recreation. Air medical services use gas laws in order to understand how the changes in altitude affect people, equipment and the internal environment of the aircraft. Several laws affect air travel including Boyle’s law, Henry’s law, Dalton’s law and Graham’s Law. Boyle’s law is relevant as it explains how pressure changes allow the gas to expand (Monroney, 2013). Dalton’s law transfers oxygen molecules from a person’s lungs to their bloodstream depending on the pressure gradient. Henry’s Law relates to the pressure of a gas over liquid (solubility). Within humans physiology the three physiological zones within the atmosphere are utilised to control conditions. Between sea level and 3 048 metres above sea level...
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...2013-14 Advanced Environmental Technologies 2013-14 Holly Cross Athletic Facility Decontamination Analysis Cleaning vs. Disinfecting Introduction Cleaning and disinfecting of public transportation is a matter of technique, coupled with the proper cleaning agents. To insure that cross contamination of harmful microbes does not occur, certain steps need to be followed to take cleanliness down to the microscopic level, where the cause of the problem actually originates. Current practices of popular cleaners often instruct the user to spray on, wait 30 seconds, and wipe. They also do little to stop cross contamination as the user moves from one container to the next. For containers, airplanes, and intermodal vehicles that go all over the world, the simple act of “cleaning” with a less powerful agent could actually be the cause of a disease jumping from one country to the next. The current practices of using alcohol-based Simple Green, or similar products, instead of the more powerful chlorine dioxide could be a legal problem due to the to the lack of disinfecting properties required by insurance and governing policies. School buses play a major role in the intermodal world we live in. The public transportation network moves millions of people around the world in vehicles that are prime targets for the growth of microbials such as viruses, bacteria and fungi. About Microbes within Athletic Facilities Microbial populations of viruses, bacteria, and fungi are among...
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...iron ball absorb to reach the temperature of your body, 37˚C? Given: The * specific heat capacity of iron is 0.460J/gK. * 4. How many kilocalories of heat energy are required to heat all of the aluminum in a roll of * aluminum foil, 500g, from room temperature25˚C to the temperature of a hot oven * 250˚C? Given: The specific heat capacity of aluminum is 0.900J/gK. * 5. Calculate the amount of heat released from the combustion of 35.0g of propane gas, * C3H8. Given: The molar heat of combustion for propane is 2220kJ/mol. * 6. Using the amount of heat released from the propane in problem five to warm up 200g of * water, what would be the change in temperature of the water? The specific heat capacity * of water is 4.186J/gK. * 7. How much octane, C8H18, should go through combustion to produce 10,000kJ of energy? * Given: The molar heat of combustion for octane is 5471kJ/mol. * 8. When 5.8g of methane gas, CH4, reacts with oxygen gas to produce carbon dioxide gas * and water vapor, 320kJ of energy is released....
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...oxygen transfer as well as examining the relationship between KLa and other fermenter variables like speed of the impeller and air flow rate, thereby calculating the values α and β in the KLa correlation: KLa = K[Pg/V]α (Vs)β KLa is the volumetric liquid phase mass transfer coefficient indicative of the mass transfer of oxygen dissolved in the liquid to the cell. It is calculated using the dynamic method which is usually used for vessels which are less than 1m in height because there is nitrogen gas hold-up in the vessel when air is reintroduced and the measurement of concentration of oxygen in the liquid does not reflect the kinetics of simple oxygen transfer until a hold-up of air in established. The measured parameters included gassed power (Pg), impeller speed, flow rate (indirectly superficial gas velocity) and DOT%. It was seen that as the power input was increased, the KLa increased for the same flow rate and that this increase was greater than increase in the flow rate of the gas, which shows confirms the results described in the literature. Introduction (326 words) Cells in aerobic cultures require oxygen for metabolism and growth. The rate of oxygen transfer from aerated liquid to the cell is especially important at high cell densities, when cell growth is likely to be limited by the availability of oxygen in the medium. The solubility of oxygen in aqueous solutions at ambient temperature and pressure is only about 10 ppm, (Doran, 1998) which is quickly consumed by...
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...b 11. b 12. b 13. a 14. a 15. a 16. b 17. a 18. a 19. a 20. d 21. c 22. a 23. b 24. c 25. a Oxy-Fuel Equipment Cutting Test-KEY 1. What fuel gas is most frequently used? a. Mapp b. Propane c. Natural Gas d. Acetylene 2. A combination torch is used for cutting only a. True b. False 3. If acetylene is used in a tip with more than eight preheat holes or in a two-piece tip the cutting tip will overheat and explode. a. True b. False 4. A cutting torch is used for cutting, welding, and heating. a. True b. False 5. Most hand torches can cut metal up to seven inches thick. a. True b. False 6. It is possible to cut steel that is four feet thick. a. True b. False 7. Acetylene should be used in a two-piece cutting tip. a. True b. False 8. Acetylene cutting tips should be one piece with 1 to 6 preheat holes. a. True b. False 9. The chance of a flashback is less with low pressure regulator settings that with high pressure settings. a. True b. False 10. The oxyfuel gas cutting torch works as a result of the metal being rapidly melted. a. True b. False 11. Hard slag is easier than soft slag to remove. a. True b. False 12. Distortion is not a problem if the correct fuel gas is used. a. True b. False 13. By looking at the drag lines in a cut, you can determine whether the cut was made correctly or incorrectly. a. True b. False 14. The two...
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...will Rachel Notley and Justin Trudeu do? What does CO2 over 400ppm mean? Ppm mean parts per million, which mean in every 1 million of unit of substance, there is 1 unit of substance presents. In simple words, in I Kg of gas, there is 1 microgram of CO2. How does the value 400ppm being measured? The CO2 concentration value 400ppm, is measured in Mauna Loa observatory, Hawaii. Mauna Loa is chosen as the measuring spot as it is far from any human activities, and it is high in altitude. The air sample is less likely to be affected by nearby human activities and can reflect the true value of the atmospheric CO2 concentration. These measurements is usually for plotting the Keeling curve with respect to the atmospheric temperature....
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...Director Sardar hussain Business nature Production plant for soda water production. Experience Both members have many years of experience in production and in HR department in country’s best cola manufacturing company. Aim To earn more profit in scares resources. Opportunities To capture the target market, this can be wedding, parties, marriage halls or marriage gardens and hotels, canteens. Weakness Electricity problem, lack of gas pressure, location problem of the production plant. Goals To produce the high quality of goods and capture the target market. Trait approaches: * The good location of the plant can be help in to hold the supplier. * Skilled labors can worked efficient and affectively. * The strength can be the finance and the experience of the CEO and director. * The skilled labors are available is good for us. Factors influencing entrepreneurship. There are some factors which are as follows. There some government restrictions and taxes. Lack of suppliers, load shedding and lack of gas pressure. The environment, social and cultural factors. Environmental factors could be that the waist materials from the production plant can be effects the environment and which very dangerous for masses. The social and cultural factors could be that the people where the plant is accepting or not the presence of different types of machinery and the soda bottles which we are producing is meeting the cultural criteria or not. Support...
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...Chang: Chemistry 7th Edition - Chapter 11 CH116 General Chemistry II INTERMOLECULAR FORCES Inter-molecular Forces Have studied INTRAmolecular forces—the forces holding atoms together to form molecules. Now turn to forces between molecules — INTERmolecular forces. Forces between molecules, between ions, or between molecules and ions. Table 13.1 Summary of Intermolecular Forces Ions Dipoles Induced Dipoles (Overhead & book p 585) Covalent bond energies 100-400 kJ/mol Attractive forces between ions 700-100 kJ/mol Intermolecular attractions less than 15% of bond energies Intermolecular Forces Ion-Ion Forces Na+ — Cl- in salt. These are the strongest forces. Lead to solids with high melting temperatures. NaCl, mp = 800 oC MgO, mp = 2800 oC Intermolecular Attractions Coulomb’s Law Force ~ (n+)(n-)/d2 Distance - twice the distance = 1/4 the force Charge on the Ion Magnitude of the dipole Composition - Solids and Liquids are closer so composition has greater role in attractive forces Attraction Between Ions and Permanent Dipoles Water is highly polar and can interact with positive ions to give hydrated ions in water. Attraction Between Ions and Permanent Dipoles Water is highly polar and can interact with positive ions to give hydrated ions in water. Dissolving Ionic Solids Attraction Between Ions and Permanent Dipoles Many metal ions are hydrated. It is the reason metal salts dissolve in water. Attraction Between Ions and Permanent...
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...116. Free radicals (see Problem 115) are also important in many environmentally significant reactions. For example, photochemical smog, which forms as a result of the action of sunlight on air pollutants, is formed in part by the following two steps. The product of this reaction, ozone, is a pollutant in the lower atmosphere. Ozone is an eye and lung irritant and also accelerates the weathering of rubber products. Write Lewis structures for each of the reactants and products in the preceding reactions. Valence electrons: O has 6 and N has 5 Total valence electrons: 1N(5)+2O(6) = 5+12=17 According to the book Nitrogen does not have an octet. NO = 5+6= 11 and O is 6 O(6)+2O(6)=18 O=N-O: ⟶∶N=O: + :O: :O:+:O≡O:⟶:O=O-O: 132. Aerosol cans carry clear warnings against incineration because of the high pressures that can develop upon heating. Suppose a can contains a residual amount of gas at a pressure of 755 mm Hg and a temperature of 25 °C. What would the pressure be if the can were heated to 1155 °C? P1V1/T1 = P2V2/T2 P1=755mm Hg T1=25 °C T2=1155 °C Volume is constant. P_2=(P_1 V_1 T_2)/(T_1 V_2 ) P_2=((755mm Hg)(1)(1155°C))/((25°C)(1)) P2=34881mmHg 104. Water does not easily remove grease from dirty hands because grease is nonpolar and water is polar; therefore they are immiscible. The addition of soap, however...
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...period in history the Medieval Warm period, which occurred from around A.D. 900 to 1300, was a period of substantial climate warmth . After the Medieval Warm period there was a period of climate cooling known as the Little Ice Age. The Little Ice Age occurred around A.D. 1300 to 1850. Today the earth is in the warming period. The second reason is that the two most abundant greenhouse gases both occur in the environment naturally. One of the most abundant green house gases water vapor accounts for between 1% to 4% of the earth atmosphere (www.humanscauseglobalwarming.com). Carbon dioxide which is the greenhouse gas...
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