Under Part 135, if the PIC of a turbine aircraft has less than 100 hours in type, they must increase the IAP minimums by 100 ft and 1/2 SM.

One option to depart an uncontrolled airport is to depart VFR and then pick up IFR in-flight with ATC. Select the most appropriate statement pertaining to this scenario.

For a third-degree price discriminating monopolist serving L market segments with inverse demand functions P_l(q_l) and a common cost function c(q1 + … + qL), the first-order conditions require:

In Florida Caverns, we saw several rooms that seemed to have a line etched into the side of the chamber that was at roughly the same height in the room/depth below the surface. What was this line and what does it represent? Explain how this information could be used to better understand the geological past of that location. 

At Weeks Bay, we collected water column data that showed trends in temperature and salinity. Name and explain two factors that control these trends. 

How do human activities such as tourism and fishing impact Bahamian ecosystems? 

Consider a partial equilibrium economy with utility function U(m, q) = m + q^(1/3), production function f(x) = x^(1/4), cost function C(q) = q^4, and marginal cost MC(q) = 4q^3. The ND-monopolist sets MR(q) = MC(q), i.e., (1/9)q^(-2/3) = 4q^3. Solving this equation, which equation must the monopoly quantity q*_M satisfy?

The marginal revenue MR(q) of a ND-monopolist equals dP/dq * q + P(q). The term (dP/dq)*q is negative (when demand is downward sloping) because:

Consider a partial equilibrium economy with utility function U(m, q) = m + q^(1/3), production function f(x) = x^(1/4), and cost function C(q) = q^4. The MS at the competitive equilibrium is MS(q*_c) = (1/12)^(1/11) – (1/12)^(12/11) approximately 0.7374, and the MS at the ND-monopoly outcome is MS(q*_M) = (1/36)^(1/11) – (1/36)^(12/11) approximately 0.7198. The Deadweight Loss from ND-monopoly, DWL(q*_M) = MS(q*_c) – MS(q*_M), is approximately:

Compare and contrast two anthropogenic environmental impacts we discussed in the field to regions of Appalachia learned about during the field course. These can be historic and/or current impacts.