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Q1. The total operating revenue of a public transportation authority is $100 million while its total operating cost is $120 million. The price of a ride is $1, and the price elasticity of demand for public transportation has been estimated to be -.04. By law, the public transportation authority must take steps to eliminate its operating deficit is asking should the transportation authority increase or decrease the price per ride based upon the price elasticity of demand.
Q2. Suppose that John's MPC is constant at 3/4. If his breakeven point occurs at $7,000 how much will John have to borrow when his income is $3,000?
If the value of M increased from 50,000 to 60,000 also nothing else changed which would equilibrium price increase or decrease. Would the equilibrium quantity increase or decrease.
Explain how does monopolistic competition differ from a) pure competition; b) pure monopoly; c) oligopoly? Explain fully what product differentiation entails.
What is output that should be produced to achieve economic efficiency and the value to society for correcting the externality.
What is Anna’s optimal choice of comic books and AOG? Illustrate her optimal choice on a graph, using indifference curve-budget line analysis.
Bob consumes two commodities: x and y. For what values of py will Bob buy y, and for what values of py will Bob buy only x?
Output per worker yt = 4kt 1/3, the saving rate is 30 percent, and the depreciation rate is 13.3 percent. Calculate the steady-state values of capital per worker and consumption per worker.
Involuntary unemployment at this wage. If so, how much. Illustrate with a diagram. What if minimum wage is set at 40,000.
Would you rather receive $100 today or $120 in one year? b Would you rather receive $205 today or $240 in one year? c Would you rather receive $500 in one year or $610 in two years?
q.q1. explain how do i calculate the midpoints and marginal costs of 1 thing in terms of the other and the other thing
The marginal cost of production is $30. Which product should go to the retail market and which should go to the wholesale market? What are the corresponding retail and wholesale prices? What would happen if the sales are switched from the retail t..
We would expect the coefficient of cross elasticity of demand for DVD players also DVDs to be positive.
If the prices of gold and other commodities increases how will this influence the value of the rand. Explain how will a depreation of the rand influence our exports and imports.
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