1. Which countries consume the most dung and how do the energy statistics in the BP Statistical Review account for it?
2. Explain why consumption of a particular energy source typically ceases long before the stock of supply is exhausted.
3. Factor demands can be derived from firm profit maximization or from cost minimization at the profit-maximizing level of output. How do these factor demands differ?
4. Cost equations are often used to obtain factor demands. How can factor demands be obtained from a cost equation? Why would one obtain factor demands this way instead of obtaining them from the profit maximization problem directly?
5. Provide a simple example of a single-equation single-fuel demand equation that you could estimate using linear regression?
6. Why estimate energy demand models? What sorts of questions can be addressed by using estimates of a demand model?