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Q. To keep gasoline expenses, Edith as well as Mathew agreed to carpool jointly for traveling to as well as from work. Edith preferred to travel on I-20 highway as it was frequently the fastest, taking 25 minutes in absence of traffic delays. Mathew pointed out that traffic jams on the highway can lead to long delays building the trip 45 minutes. He preferred to travel along Shea Boulevard, that was longer about 35 minutes, whereas rarely had traffic jams. Edith decided that in case of traffic jams, Shea Boulevard was a sensible alternative. None of them identify the state of the highway ahead of time. After driving to work on the I-20 highway for 1 month (20 workdays), they establish the highway to be jammed 3 times. Assuming that this month is a good demonstration of all months ahead, should Edith as well as Mathew prolong to use the highway for traveling to work?
Explain how would you conclusion vary for winter months, if bad weather formulate it likely for traffic jams on the highway to increase to 6 days per month?
How would your conclusion vary if Mathew purchased a new smart-phone app that could show the status of the highway traffic prior to their drive each morning, thus reducing the probability of them getting into a jam down to only 1day for every month?
Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
What do you think he would suggest as an economic plan for our economy. Would they agree or disagree with the current policies.
What can be accomplished about the impact of transportation costs on the price of the traded product in each trading nation.
Assume that during the last month of the tenth year of ownership, the property in Problem 2 is sold for 1,500,000. Assume also that the seller incurs transaction costs equalling 6 % of the sales price.
They could each decide to work a few extra hours on Saturday and earn more income. But they choose to play tennis or to relax around the house.
Using the numbers that you calculated above, explain the relationship between the marginal cost and average variable cost.
Explain how many units of pork will the government be forced to buy to keep the price at $2.25. How much will the government spend in total.
Find Equilibrium GDP (Y). If potential GDP is 1950, is the economy in a recessionary or inflationary gap. Suppose that the MPC, falls to 0.75, so C = 0.85DI. Find Equilibrium GDP.
A facility for a production plant can be purchased for 155,000 with a down payment of 25,000.
Suppose the entire civilian labor force is 20,000 people and the number of unemployed is 2,000 people.
Do sibs have the expected effect. Explain. Holding medic and feduc fixed, by how much do sibs have to increase to reduce predicted years of education by one year.
They value campaign funding in terms of dollars spent. Therefore, after spending ci on a campaign.
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