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Web Activity 1 How has the average retail price of electricity in your state changed over the past 10 years? What are some possible explanations for this change? How does the price of electricity in your state compare to the national average? What are some possible explanations for the difference? To find information to answer this question, log on to http://www.energy.gov, click the button for Data and Prices, click the button for current energy prices. Find the button for fuel price and navigate to the retail revenue for electricity. Web Activity 2 Go to an auction site such as E-bay at http://www.ebay.com. Pick a product and track its "current winning lowest bid" price over 1 day. How does the price change as the time draws nearer to closing time? Draw a supply and demand diagram of the auction. Web Activity 3 The New York Mercantile Exchange is a market in which buyers and sellers set prices for the promises to deliver various commodities in the future. After logging into http://www.nymex.com, find a chart for electricity futures. Record these numbers and explain why there is a spike in the futures price of electricity during the months of July and August. |