Which of the following statements about next generation biofuels is correct? a. The objective of next generation biofuels is to use inorganic materials that will not drive up food prices. b. The cost of next generation biofuels are low. c. The next generation biofuels will use sugarcane rather than corn. d. The next generation biofuels will not use any part of the corn plant.
multiple choice
34. Which of the following statements about next generation biofuels is correct?
a. The objective of next generation biofuels is to use inorganic materials that will not
drive up food prices.
b. The cost of next generation biofuels are low.
c. The next generation biofuels will use sugarcane rather than corn.
d. The next generation biofuels will not use any part of the corn plant.
35. Which best describes the economic view of energy efficiency?
a. We should have the key focus of saving energy.
b. We should adopt more energy efficient appliances as long as the technology is
available.
c. We should provide rebates for increases in the marginal product of energy.
d. We should invest in economically efficient energy use.
36. Why might an economist be against a ban on incandescent light bulbs?
a. A ban does not consider individual preference and willingness to pay.
b. CFDs and LEDs are prohibitively expensive for income families.
c. The use of incandescent light bulbs is accompanied by externalities.
d. Bans are generally very expensive to enforce.
37. What is the optimization condition for economically efficient use of energy in production
in the short run?
a. The marginal revenue product equals the price of the input.
b. The total revenue from the production equals the total cost of the input.
c. The average revenue from the production equals the price of the input.
d. Revenue is maximized.
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