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The new york times reported (Feb 17 1996) that subway ridership declined after a fare increase: nearly four million fewer riders in Dec 1995, the first full month after the price of a token increased 25 cents to 1.50 than in the previous Dec, 4.3 percent decline. a. use this data to estimate the price Elasticity of demand for subway rides. b . according to your estimate what happens to the transit authority's revenue when the fare rises? c. Why might your estimate of the Elasticity be unreliable?
The prisoner-of-war camp described by Radford in the text (Application Box 7.1) periodically received large shipments of cigarettes from the Red Cross or other sources. How did cigarette shipments affect the price level (the prices of goods in terms ..
suppose that the required ratio is 20 percent. a banks customer deposits into her account 100000 dollars in funds from
Dave deposits $5,000 into a savings account that pays 7.2 percent per year, continuously compounded. What is the effective annual interest rate? Decide the value of his account at the end of two years.
assume you are the manager of abba cable company which provides commercial communication services to the town of canyon
The amount of market power a firm has depends on
The manager of a public utility supplying electricity to a significant portion of a geographic region presides over an electrical generation facilities that can make electricity using either natural gas or oil,
What are the different types of control systems What are some advantages and disadvantages of the various control mechanisms How does your organization use the steps of the control process
Assume you run a pizza store and currently have two workers. If you hire a third worker, your output of pizzas per day rises from 55 to 65.
Emily sold lemonade on Tuesday for $.50 a cup and she sold 100 cups. On Thursday she raised the price to $1 a cup and sold 50 cups. The demand for lemonade is
A. What is market failure What are the major reasons that a free, unregulated market in medical care might not be optimal B. What assumptions of the perfectly competitive marketplace are violated in medical markets How does each affect equilibrium ..
describe john maynard keynes contribution to the theories of macroeconomics. why was he such an important economist?
What is the economic term for productive resources that provide a means for society to produce and distribute its goods.
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