Consider a regenerative vapor power cycle with two feedwater heaters, a closed one and an open one, and reheat. Steam enters the first turbine stage at 12 MPa, 480°C, and expands to 2 MPa. Some steam is extracted at 2 MPa and fed to the closed feedwater heater. The remainder is reheated at 2 MPa to 440°C and then expands through the second-stage turbine to 0.3 MPa, where an additional amount is extracted and fed into the open feedwater heater operating at 0.3 MPa.

The steam expanding through the third-stage turbine exits at the condenser pressure of 20 kPa. Feedwater leaves the closed heater at 210°C, 12 MPa, and condensate exiting as saturated liquid at 2 MPa is trapped into the open feedwater heater. Saturated liquid at 0.3 MPa leaves the open feedwater heater. Assume all pumps and turbine stages operate isentropically.

Determine for the cycle:

(a) the heat transfer to the working fluid passing through the steam generator, in kJ per kg of steam entering the turbine.

(b) the percent thermal efficiency.

(c) the heat transfer from the working fluid passing through the condenser to the cooling water, in kJ per kg of steam entering the first-stage turbine.

1. Sources of monopoly power

A monopolist, unlike a competitive firm, has some market power. It can raise its price, within limits, without the quantity demanded falling to zero. The main way it retains its market power is through barriers to entry—that is, other companies cannot enter the market to create competition in that particular industry.

Complete the following table by indicating which barrier to entry appropriately explains why a monopoly exists in each scenario.

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For a given AD curve, a reduction in the availability of labor or raw materials would cause the short run aggregate supply to shift to the left which would cause prices to fall and output to increase in the short run.

Select one:

True

False

According to the AD/AS model, an economic contraction caused by a leftward shift of aggregate demand remedies itself over time as the expected price level falls, shifting the short run aggregate supply rightward.

Select one:

True

False

According to the AD/AS model, if the long-run aggregate supply curve is vertical then the economy will always return to the level of output that occurs when the rate of unemployment is at its natural level.

Select one:

True

False

The sticky price theory of short-run aggregate supply says that when the price level falls unexpectedly, some firms will have higher than desired prices which increases their sales.

Select one:

True

False

As the United States entered World War II in the early 1940s, the U.S government increased military expenditures that caused the aggregate demand curve in the U.S. to shift to the left and that caused the rate of unemployment to rise to historic levels.

Select one:

True

False

Find the minimizer of f(x) = x⁴ - 14x³ + 60x² - 70x on interval [5, 7] using the golden section method with uncertainty 0.2.

PLEASE SHOW YOUR WORK.

Silver currently trades for $99 per ounce. The cost to store sliver is 0.7% per year continuously compounded. The riskless rate of interest is 5.9% per year c.c. What is the fair value of a futures contract on silver maturing in 6 months?

(Binary Erasure Cannel) Suppose that Γ is the binary erasure channel (BEC), the input probabilities of 0 and 1 are ? and ?̅, and the probability of sending source symbols correctly is ?. Assume ?=0.6 and ?=0.7. Please compute the system entropies H(A), H(B), H(A|B), H(B|A), and H(A,B).

The possible outcomes for the returns on Stock X and the returns on the market portfolio have been estimated as follows:

A) 2.1

B) 0.7

C) 1.0

D) none of the above

A Stirling Engine uses 8.1 x 10^-3 mol of an ideal gas, operates between hot and cold heat reservoirs of temperatures 95 degree celsius and 24 degree celsius, and runs at a rate of 0.7 cps. Q) What is the net transfer into the gas during in cycle?

Using the method of recursion, compute y[n] for n = 0 to 20, when x[n]=u[n] and y[-1]=2:

?[? + 1] − 0.8?[?] = ?[?]

Find a closed-form expression for your result.