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Question about Price Elasticity of Demand and Total Revenue
The total operating revenues of a public transportation authority are $100 million while its total operating costs are $120 million. The price of a ride is $1, and the price elasticity of demand for public transportation has been estimated to be -0.4. By law, the public transportation authority must take steps to eliminate its operating deficit.
(a) What pricing policy should the transportation authority adopt? Why?
(b) What price per ride must the public transportation authority charge to eliminate the deficit if it cannot reduce costs?
Assume you own a home re-modelling company. You are currently earning short-run profits. The home re-modelling industry is an increasing-cost industry.
What are two possible fiscal policy solutions for the problem? Using a Keynesian approach, you should be able to get numerical solutions. More points are given for numerical solutions.
Suppose that yi receives $ 60 per day as interest on inheritance and her wage is $25 per hour, and she can work a maximum of 16 hours per day at her job. draw her daily budget constraint.
A monopolist faces the demand curvep =11 - Q , where Q is measured in thousands of units. What is the monopolist profit maximizing price and quantity? What is the profit?
The requirement is:- term paper on International Business from economic view point. The topic is effect of corruption on Chinese and Indian economy and how India's IT sector.
Illustrate what is the tolal accounting cost. Illustrate what is the total economic cost. Elucidate why these are different in this way.
As an employee of World Bank you've been asked to research the needs of a country with a particular economic concern.
Jim is considering quitting his work and utilizing his savings to start a small business. He expects that his costs will consist of a lease on the building, inventory, wages for two workers, electricity and insurance.
Different races now or likely to be in workforce of the future depends on the US populations racial demographic changes.
Address whether any of these are a factor when looking at the future exchange rate among the United States and Egypt.
What is the main policy message of the AS-AD model, and how does it relate to the 1930s Keynesian revolution in economic theory? What should today's policy-makers assume about the natural rate of unemployment?
If increased government spending and tax cuts were equally effective in stimulating aggregate demand, which fiscal tool would you select? Why?
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