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The city government is losing millions of dollars on the mass transit system (buses and subways). The government proposes to increase the fare of a ticket by 20% to raise revenue and has asked your advice. You know that the price elasticity of demand for mass transit in the city is approximately equal to 0.75. What do you think of the proposal to increase the fare to raise revenue for the city? Be as specific as possible.
if the demand for labor is elastic because the demand for labor will decrease more when you have elastic demand than if demand were inelastic.
q1. if capital is measured on the vertical axis and labor is measured on the horizontal axis the slope of an isoquant
How do the GDP per capita change after accounting for price indices. Why is it important to use price index adjustments.
Algebraically describe the market equilibrium price/output combination. Find out the price below which the firm will go out of business.
The salvage value at the end of the useful life is 0$0.00 (zero) sing a straight line depreciation method and double declining balance find the depreciation at each year and the book value .
q1. due to rising food costs our vending contractor royalle vending will implement a slight price increase on all
Why do marginal costs first fall and then begin to rise? Why are marginal costs important to a firm when making decisions to increase or decrease production?
Assume that a Pfizer has a linear demand curve for Lipitor, a constant marginal cost curve (i.e. the marginal cost is a constant), and is a monopolist in this market.
A firm's marginal rate of return on investment curve shows the amount
A rather wealthy man decides to arrange for his descendants to be well educated. He wants each child to have $60,000 for his or her education. He plans to setup a perpetual trust fund so that six children will receive this assistance in each generati..
Suppose the value of technology adoption to a given user is log(n) where n is the total number of users who have already adopted the technology. Suppose the cost of technology adoption per user is c. Assume there are N users in the market.
Jack is in the umbrella making business. The economic cost of each umbrella is $2. Illustrate what are the formulae for both the average economic cost curve and marginal cost curve.
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