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a. In trip calculation, it is observed that a Wal-Mart store driver successfully made a total of 104 trips in a given period of time. During field calculation, it is shown that the calculated number of trips is actually 128. What is the value of the adjustment factor? ____ b. It is shown that the population of New York City, NY is much greater than that of Irvington, NJ. Employment opportunities, malls, social activities and tourist sites in New York City are therefore more than that in Irvington. If attractiveness for New York and Irvington are therefore 1,800 and 180 respectively and if the calculated impedance of migration is known to be 1.57, based on Gravity-Based model, estimate in demands, the number of people who travel between Irvington, NJ and New York City per week. ____ c. Elasticity can be defined as percentage change in demand for a 1% change in decision attribute. For linear aggregate demand, what is the mathematical representation/formula for this statement? You must define the parameters you choose to use for this answer. ____ d. In the City of Joplin, due to weather devastation and hurricane effects, the cost of parking in the local Square has increased by 20%. This change has not only reduced the number of vehicles that travel to the Square by 5%, but it has also forced the inhabitants of Joplin to use buses. Bus trips have therefore increased to 20%. With respect to the cost of parking in the local Square, determine the elasticity of vehicle traffic. ____ e. In the City of Joplin, due to weather devastation and hurricane effects, the cost of parking in the local Square has increased by 20%. This change has not only reduced the number of vehicles that travel to the Square by 5%, but it has also forced the inhabitants of Joplin to use buses. Bus trips have therefore increased to 20%. With respect to the cost of parking in the local Square, determine the elasticity of bus transit. ____
If the ce If the of Pepsi-Cola increases from 40 cents to 50 cents per can and the quantity demanded decreases from 100 cans to 50 cans, then, (according to the arc price elasticity formula,the same formula used in class).
The demand in each group is linear. Would the monopolist discriminate (charge different prices to the two groups) if the slope of each inverse demand were the same, but vertical intercepts were different? What if vertical intercepts were the same ..
In the floating rate model, a change in the exchange rate is supposed to adjust NX(net exports), until the economy reaches an equilibrium state. However, evidence shows that the exchange rate adjustment process takes years.
Complete the constraints for a 2-year crop rotation between oats and barley in the homestead paddock and complete the constraint for turnip and millet production in the South Hill paddock
I am learning about scarcity in my SS 6th grade and I am unsure about this question. which sentence best tells the effect of scarcity on economics.
Your supervisor has asked you to compute the elasticities for each independent variable - Compute the elasticities for each independent variable.
Calculate the appropriate value to use for income in your analysis. Explain why you choose to use that level of income and what is the dead weight loss associated with monopoly
Use technology and information resources to research economic problems and issues and write clearly and concisely about economic problems and issues using proper writing mechanics.
In what ways does economics class relates to the real world? How does knowledge gained from economics teaching been valuable in helping somone understand or evaluate events or policies?
when a variable grows at constant rate, then the graph of the ln of the variable is a linear function of time, with slope that is approximately equal to the growth rate of the original variable (when that growth rate is small). Usin..
Why does the assumption of independence of risks matter in insurance What would happen to premiums if the probabilities of houses burning were positively correlated Can you think of a situation where they might be negatively correlated
U(X,Y) = X2Y. The consumer has $24 to spend and the prices of the goods are PX = $2 and PY = $4. Note that the MUX = 2XY and the MUY = X2.
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