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The subway fare in your town has just been increased from a current level of 50 cents to $1.00 per ride. As a result, the transit authority notes a decline in ridership of 30 percent. a. Compute the price elasticity of demand for subway rides. b. If the transit authority reduces the fare back to 50 cents, what impact would you expect on the ridership? Why?
Examine advantages and/or disadvantages of distributing market pesticide permits to each farm operating in eater shed equal to 40% of current levels of use of that pesticide, versus simply ordering each farm to reduce pesticide issues to 40% of cu..
A tax placed on buyers of airline tickets shifts the
Illustrate what would production at a point outside the production possibilities curve indicate? What must occur before the economy can attain such a level of production.
Illustrate what is elasticity of demand at profit maximizing level of output. Without use of any calculations, determine wherefirm=s total revenue would increase, decrease, or stay same if CRAPCO attempted to increase its price by .2%. Explain how..
Suppose the government decides to increase taxes by $50billion and to increase transfer payments by $50 billion. Illustrate what effect would there be on aggregate demand.
Why would it be valuable for a business to know cross elasticity of demand for two products it produces: peanuts and popcorn.
Explain how many units of housing would the government have to increase the provider of housing in order to get the market equilibrium rental cost.
Why should John and Karl live together. If they do, will there be dirty dishes in the sink. Explain
write down ten results from the polls that indicate something interesting about the relative strength of the parties. Write a letter to a presidential candidate explaining what you would recommend based on this data.
Elucidate how production possibilities table or curve reflects law of increasing opportunity costs. Illustrate what do points along PPC recurrent (with respect to available resources).
Comment on this trade-off between equity and growth. Explain how would you go about resolving the issue if you were the president of a small poor country.
With fewer also fewer barriers to trade, countries are able to focus on producing those goods also services which they are best.
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