You may work on these alone or in groups. You may not consult any other person including, but not limited to, the teaching assistants, other faculty, Aunt Em, Uncle Henry, and Toto. If you do not understand a question, you may e-mail me over the weekend. I cannot guarantee that I will be able to respond quickly but I will check e-mail at least once each day. Any answer I give, I will send to the whole class.
P w is the price per gallon of water.
The city pays its fixed costs through a property tax that is collected from each household. Households pay this tax regardless of the amount of water they use. Most agricultural experts say that diseconomies of scale in farming begin when farms reach 400 acres. Over the past few years, there has been a steady decrease in agricultural prices and family farms have suffered the largest losses. Electric utilities sell their output in a perfectly competitive market.