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Airlines operates a plane with 20 first-class seats and 100 coach-class seats. During December, on a given flight there are 20 business travelers and 80 vacation travelers. Sloan cannot tell which is which when they purchase tickets. Each type of traveler's maximum willingness to pay is given by: First Class Coach Class Business $1,300 $500 Vacation $400 $250 Assume all costs are sunk. Is the following, true, false, or do you need more information? Airlines should charge $1,300 for a first class ticket
One of the functions of price is to ration resources and goods and services. What do we mean when we say price serves as a rationing device? Elaborate your response in relation to scarcity and in terms of the demand and supply model
you want to be part of the green revolution and are looking to find ways to reduce your energy use. but first you must
Find the first order conditions and find the asset demand function for a when utility takes the log form, as in 1B above.
Provide some example of a goods that you purchase or market at your workplace to demonstrate why demand curve slopes downwards and why supply curve slopes upwards?
Suppose you are an industrialist begninning a biotechnology company. If your research is successful, technology can be sold for $30 million. If your research is unsuccessful, it will be worth nothing.
select any 3 parts of the united states constitution or the amendments to the constitution and write a discussion post
The local government of a city is concerned about increasing rental costs for residents, and decides to impose a ceiling price on the maximum rents that can be charged by landlords on apartments and houses.
what is the relationship between economies of scale and a natural monopoly? what is simultaneous consumption and
All other factors held constant, what would be the effect on the demand for money (M1) of each of the following situations. Explain the rationale behind your responses.
deck amp blacker is a maker of small kitchen appliances. its economistsestimated the following demand for toaster oven
Is the main outcome of economics (high standard of living) the only relevant question in the realm of economic analysis? Do you agree? Is quality of life also significant?
1) If the desired level of investment spending (I) is greater than the level of national savings (S), are net exports (NX) positive, negative, or zero? Explain the connection between I, S, and NX (in words as well as mathematically).
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