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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.
Why might a parent company like McDonalds or Hilton choose to franchise its local outlets rather than own them and staff them with employees In many smaller cities all McDonald's outlets are owned by the same franchisee.
Between 2003 and 2004, U.S. employment increased by 1.5 million workers, yet the number of unemployed workers fell by only 0.6 million. Can these numbers be consistent with each other
What is the forward premium on euros (the forward discount on dollars)? What is the difference between the interest rate on one-year dollar deposits and that on one-year euro deposits (assuming no repayment risk)?
Recently there have been several news talking about the slowdown of production (and productivity) in south-east Asia (especially China). Answer the following questions under the following assumptions: there are only two regions in the world; the U..
For decades, these countries had maintained a stable currency and enhanced their globalization efforts. Following this prosperous period, Thailand, South Korea, Indonesia, Malaysia, and the Philippines dropped to net outflows of U.S. $12.1 billion..
Are you for or against free trade Are you for or against NAFTA What is the economic basis for trade Explain the underlying facts that support free trade and give an example of a good that you purchased recently that is based on resource difference..
A recent merger of note is that of Hewlett Packard and Compaq Computers. When the merger was announced, it was widely criticized as not making economic sense.
Labor unions face many challenges-including changing technology, foreign competition, and declining membership. But one union occupation thrives-dockworkers. The 100,000 members of the two longshoremen unions handle nearly every item or shipping c..
A survey performed by a major research organization indicated that businesses are wary of current economic conditions and are now restoring to electronic media, such as the Internet and the telephone, to transact business.
Recently, a top constitutional law expert who had been licensed to practice lawn in Massachusetts and was under consideration for nomination to the California Supreme Court failed the California bar examination. In doing so, she joined a long list..
The market for chicken sandwich, considered a normal good, is in equilibrium. Analyze the effect of the following events on equilibrium price and equilibrium quantity of chicken sandwich.
Is it not right to use the total revenue test for elasticity, when there is a direct relationship in price and total revenue the demand is elastic?
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