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Scenario:
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.
Questions:
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?
Describe each of the subsequent using supply and demand diagrams.
Political Economy GV307 : Consider the model of “no theft” where the consumer pays the official government price plus a bribe in order to obtain X. Assume that the official marginal revenue for selling the good in this context is given.
Describe how the market for Alaskan king crab will be affected if, at the same time that medical reports confirm that suspected health benefits from consumption of Alaskan king crab meat, wages are increased for trawler men
What is the effect of the United Arab Emirates' increasing sovereign wealth funds on GDP?
What are the efficient quantities for each of the two periods? What are the correspondingprices and MUCs?
What is the Marginal Rate of Transformation between sugar and tea?
Describe the market growth rate for product and service.
Show the country's production possibility curve.
Price elasticity of demand, Income elasticity of demand and Cross elasticity of demand of toyota corolla car.
Econ 301 Assignment, Find at least three other variables that may affect the return of equity of your choice
Questions: : Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month? Explain your choice.
Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:
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