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Toni likes to purchase round trips between the cities of Pulmonia and Castoria and other goods out of her income of $10,000. Fortunately, Pulmonian Airways provides air service and has a frequent flyer program. A round trip between the two cities normally costs $500, but any customer who makes more than 10 trips a year gets to make additional trips during the year for only $200 per round trip.
a) On a graph with round trips on the horizontal axis and "other goods" on the vertical axis, draw Toni's budget line. (Hint: This problem demonstrates that a budget line need not always be a straight line.)
b) On the graph you drew in part (a), draw a set of indifference curves that illustrates why Toni may be better off with the frequent flyer program.
c) On a new graph draw the same budget line you found in part (a). Now draw a set of indifference curves that illustrates why Toni might not be better off with the frequent flyer program.
Show that they behave as they would in a perfect-foresight model when anticipated and as they would in the standard AS-AD model when unanticipated.
What is driving the real price of gold? Conduct an analysis of demand and supply shocks in the gold market. Need 20 bullet points along with data and its source
The cost to invest in either option is the same today. Both options will provide you with $20,000 of income. Option A pays five annual payments starting with $8,000 the first year followed by four annual payments of $3,000 each.
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find the price that will induce consumers to buy that quantity.
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Should this evidence affect the court's decision regarding enforcement of the original contract?
An investment of $10000 generates a net revenue of $15000 per year for 10 years with the salvage values $20000 is this a good investment at i = 10% annually also determine the IRR
a) What is the price elasticity of demand for HP printers b) What is the cross-price elasticity with respect to commodity X Give an example of what commodity X might be. c) What is the cross-price elasticity with respect to commodity Z
Compare this situation to the argument over carbon tariffs. Why might defenders argue that such tariffs are legal? What objections can you think of?
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