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The Delaware River Joint Toll Bridge Commission increased the toll from $0.50 to $1.00 on the bridges on Route 22 and Interstate 78 from New Jersey to Pennsylvania. Use the information in the following table to answer the questions. (Assume that besides the toll change, nothing occurred during the months that would affect consumer demand.)
a. Calculate the price elasticity of demand for each bridge, using the midpoint formula.
b. How much total revenue did the commission collect from these bridges in November? How much did it collect in December? Relate your answer to your answer in (a).
Source: Garrett Therolf, "Frugal Drivers Flood Free Bridge," The Morning Call, January 20, 2003.
During the 70's and 80's the goverment of many countries in Europe and North America banned the advertisement of cigarettes on televisions. Suprisingly, this attracted little protest from the cigarette manufacturer's.
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In response to the new federal regulation to provide the public with safe and wholesome seafood, an Alaska seafood processor is considering two new sanitation control systems to help monitor its seafood processing operations.
Forecast the data for 2000 again in problem 1 with exponential smoothing with w=0.3 and w=0.7. Compare RMSEs for moving average and exponential smoothing forecasts to answer if this is a better forecast than the moving average?
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These multiple choice problems are belong to Economics. The first problem is about constant cost industries expanding operations and the second problem is about price being greater than average total cost for a firm.
Compare and contrast the company's global sourcing of equity and debt financing strategies with the strategies utilized by its nearest competitor. Evaluate the company's strategy toward international diversification by illustrating both the ben..
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The free market is the best regulator of business." Explain why United States public has not accepted this idea for regulating depository financial institutions.
6.1 Recognize and be able to analyze the role of unions in the work situation, and the different types of unions there are in both the U.S. and abroad;6.2 Understand and be able to analyze the role of entrepreneurship and small business ownership i..
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