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An airline estimates that the price elasticity of demand for business travelers (who travel on weekdays) is -2, while the price elasticity of demand for vacation travelers (who travel on weekends) is -5. If the airline price discriminates (and costs are the same) what will be the ratio of weekday to weekend prices?
Some states are required to balance their budgets. Is this measure stabilizing or destabilizing? Suppose all states were committed to a balanced budget philosophy and the economy moved into a recession.
Read the article titled, "Is social media ruining our kids' social skills?" Provide your opinion on the effect that texting and social media (i.e., Twitter, Snap Chat, Facebook, etc.) are having on individuals' abilities to articulate a face-to-fa..
According to the rule of 70, how long will it take for your income to double if you get a 5 percent raise every year? If you start work at the age of 23 earning $40,000 per year and get a 5 percent raise every year, how much will you be earning if yo..
Pamela Sue, proprietor of Heartland Supermarkets which would like to raise her current sales of corn from 250 bushels per week to 500 bushels per week.
The final project provides you with an opportunity to use work from previous papers and discussion forums in formulating your paper, but it will also require additional research. You are required to adhere to APA (American Psychological Associatio..
1. the information below describes the real gdp per capita for the country of utopia for the period of 1975 to
Sparkling Water Co. has determined that the price elasticity of demand for a case of its purified water by Michigan residents is -3.0, while the price elasticity of demand by Florida residents is -2.5. Assume that the marginal cost is constant at $8...
In a certain country, private enterprises provide various goods and services. But the government provides free public transportation and electricity to its citizens. Which type of economy exists in this country?
What did you learn? Why is it important? How do the Economics concepts we just covered impact the economy, you and your family, your friends and your employer?
If the Fed didn't change the money supply, what would happen to the interest rate and if the Fed wanted to keep the interest rate constant following this money demand shock, how would it change the money supply?
Is it wrong to use the total income test for elasticity, when there is a direct relationship between price and total revenue the demand is elastic.
Suppose a firm producing a commodity X is a price taker. The prevailing market price for X is Php. 20. The firm’s cost is given by TC=(0.1q^2)+10q+50 where q=the number of X the firm chooses to produce per day.
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