Any consumer trying to decide whether to buy a given good or service will base the decision on his or her reservation price and the existing market price. When making this decision, the buyer's reservation price measures the

multiple choice 1
marginal cost: the cost of production
marginal benefit: what the buyer is willing to pay
marginal cost: the lowest amount the buyer is willing to pay
marginal benefit: the value of the resources used in production

Amass of m 1.5 kg of steam is contained in a closed rigid container. initially the pressure and temperature of the steam are: p 1.5 mpa and t 240°c (superheated state), respectively. then the temperature drops to t2= 100°c as the result of heat transfer to the surroundings. determine: a) quality of the steam at the end of the process, b) heat transfer with the surroundings. for: p1.5 mpa and t 240°c: enthalpy of superheated vapour is 2900 kj/kg, specific volume of superheated vapour is 0. 1483 m/kg, while for t 100°c: enthalpy of saturated liquid water is 419kj/kg, specific volume of saturated liquid water is 0.001043m/kg, enthalpy of saturated vapour is 2676 kj/kg, specific volume of saturated vapour is 1.672 m/kg and pressure is 0.1 mpa.

The higher the astm grain-size number, the coarser the grain is. a)-true b)-false

An external consultant recommends that a plant installs a bank of capacitors for power factor correction. this will reduce the peak electrical demand charges by an average of 93 kw every month. the plant current pays $13 per kw in peak demand charges. the capacitor bank will include 223 kw of fixed capacitors, and 183 of variable capacitors. the fixed capacitors cost $59 per kw, and the variable capacitors will cost $65 per kw. the consultant charges 21% of the equipment costs to install the capacitors. because this project will reduce the demand for the electric utility, they are prepared to provide a one-time rebate of $42 per kw of reduced demand. what is the simple payback period for this project (in years)?