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Skyscraper City has a subway system, for which a one-way fare is $1.50. There is pressure on the mayor to reduce the fare by one-third, to $1.00. The mayor is dismayed, thinking that this will mean Skyscraper City is losing one-third of its revenue from sales of subway tickets. The mayor’s economic adviser reminds her that she is focusing only on the price effect and ignoring the quantity effect. Explain why the mayor’s estimate of a one-third loss of revenue is likely to be an overestimate.
To determine the cost of using these people in the army what information do you need.
Determine where each of following increases, decreases, or remains unchanged in short run: market interest rate, quantity of money demanded, investment spending, aggregate demand, potential output, price level and equilibrium real GDP.
Illustrate the price that consumers are willing and able to pay for this output is $40 per unit. Produces this output, the firm's average total cost is $43 per unit, and its average fixed cost is $8 per unit.
Also during that first year, the cookie business incurred costs that required outlays of money amounting to $9,000. What was Zach's economic profit (loss) for the year.
q.a corporation is allowing for building a bridge across a river. the bridge would cost 2 million to build as well as
1.name 5 stylized facts about the business cycle.2. rank order these three ideas from most optimistic about how a
Compute point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points.
Are unions good or bad for economy. How do unions at GM and Ford affect employment levels and wages How do unions affect or industries in terms of employment and wage levels.
Elucidate how each of the following people would talk about scarcity and trade offs.
Impacts on currency markets and on economic conditions within the country and globally.
If a country's currency's external value is tied or pegged to the currency values of the country's leading trading partners, this arrangement
There were 13,249 weddings in Springs City last year. According to state records, notaries public performed 17% of the weddings. How many weddings were not performed by notaries public?
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