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The following equations represent the demand and supply functions associated with a given passenger railway route for a particular season: Demand function: V =400 – 12P Supply function: P = 1.5 - 0.03V + 0.006V2 where V is the daily passenger trips along the route and P is the fare in dollars. a) Determine the equilibrium demand and price b) What is the maximum demand along the route? c) What is the minimum ticket price? d) Repeat part a) with a Supply function P = 1.5 - 0.03V - 0.006V2
In this assignment, you will discuss the importance of trade in the world and how this has changed over the past decades. The text outlines the five main reasons for international trade.
China has been growing at a phenomenal rate and recently became the second largest economy in the world. Discuss economic reasons why trade with China (both in terms of importing and exporting) is beneficial to the United States.
A team owner tries to decide quality level. By spending another $12 million, the owner expects that the team finishes one place higher. Does this mean that the owner can continuously raise the team’s place in the standings by one place by one place f..
Explain the differences in how an open and closed economy is modeled including any policy (monetary and fiscal) implications for these two types of economies. Ins include a fully labeled model showing the impact of increased political instability for..
Joe keeps only 5.5 days-of-supply of inventory on average because much of his inventory is live bait and micro-brew beer, both of which have a short shelf life. What is his annual inventory turns.
q.demonstrate the demand and supply program for calculators in norway and sweden. on graph paper sketch the demand and
Assume that PY increases by 15%, what percentage effect on quantity demanded of product X could be expected.
Explain why an industry in a perfectly competitive marketplace would choose to remain in business, if its profit is zero at equilibrium.
Why does the Great Salt Lake, which is wholly within the state of Utah, suffer lower levels of pollution than Lake Erie, which is bordered by several states and Canada?
In order for a price-discrimination scheme to be effective at boosting profit, the seller must...
In recognition of the post-purchase role of promotion, what strategies would you suggest for; (a) a busy hospital emergency room, (b) an executive fitness program that provides health screening and fitness evaluation, and (c) an occupational medicine..
Using a wholesale cost of $4 per case in each state, calculate the breakeven output quantities for each alternative.
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