1. An uncovered swimming pool loses one inch of water from its 1,000 ft2 surface each week due to evaporation. The heat of vaporization for water at the pool temperature is 1,050 Btu/lb. The cost of energy to heat the pool is $10.00 per million Btu. a. How much money is spent each week to heat the volume of water that is lost to evaporation? b. A salesman claims that a $500 pool cover will reduce evaporative losses by twothirds and will pay for itself in one 15-week swimming season. Is the salesman correct?

4. suppose that pollution in a neighborhood comes from two factories, with marginal benefit curves given by mb1 = 12 – p1 and mb2 = 8 – p2. the level of pollution in the neighborhood is given by p = p1 + p2. the government wants to limit pollution by instituting a pollution-rights market. the government’s desired level of p is 10, so it prints 10 pollution rights and offers them for sale to the firms.a)find the equilibrium selling price of a pollution right, as well as the allocation of rights (and hence pollution levels) across the two factories. b)repeat part (a) for the case where the government’s desired level of pollution equals 14. c)comment on the usefulness of a pollution rights market in achieving efficient levels of pollution abatement.

Rosie and her brother michael decided recently to purchase an rv together. they both want to use the rv to take their families camping. the price of the rv was $10,000. since michael expects to use the rv 60% of the time and rosie 40% of the time, michael contributed $6,000 and rosie contributed $4,000. their ownership percentage equals their contribution percentage. which type of property titling should they use to reflect their ownership interest?

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