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To save on gasoline expenses, Edith and Mathew agreed to carpool together for traveling to and from work. Edith preferred to travel on I-20 highway as it was usually the fastest, taking 25 minutes in the absence of traffic delays. Mathew pointed out that traffic jams on the highway can lead to long delays making the trip 45 minutes. He preferred to travel along Shea Boulevard, which was longer (35 minutes), but rarely had traffic jams. Edith agreed that in case of traffic jams, Shea Boulevard was a reasonable alternative. Neither of them knows the state of the highway ahead of time. After driving to work on the I-20 highway for 1 month (20 workdays), they found the highway to be jammed 3 times. Assuming that this month is a good representation of all months ahead, should Edith and Mathew continue to use the highway for traveling to work? How would you conclusion change for the winter months, if bad weather makes it likely for traffic jams on the highway to increase to 6 days per month? How would your conclusion change 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 per month (where on this day, the app showed no traffic jam, but a jam developed in the meantime as they were driving along the highway).
Airway Express has an evening flight from Los Angeles to New York with an average of 80 passengers and a return flight the next afternoon with an average of 50 passengers.
Describe the welfare costs of a monopoly and discuss the regulator organizations that monitor anti-trust in America. Name these organizations and their functions.
questionthe task is to interpret the following article in the light of your understanding of supply and demand. where
1. consider the production functionwhere q is total output k is the amount of capital used and l is the amount of labor
economics of environmental policy in turkey a general equilibrium investigation of the economic evaluation of sectorial
Federal antitrust enforcers are investigating whether a multinational pharmaceutical company has attempted to minimize the impact of generic competition to one of its most profitable prescription drugs.
The future possibility of doctors examining X-rays and performing other responsibilities from remote locations through the Internet. How will this change affect international business?
what policy did the fed and other central banks around the world use to try to stabilize the economy during the
Movie theaters often offer decreased rates for children under ten. This suggests that tht demand for adult admission is
how is an aggregate demand curve derived? what would cause the aggregate demand curve to shift to the right? suppose
suppose that the governmental authorities wished to decrease use of a pesticide that is leaching into groundwater
Assume that the consumption schedule for a private open economy is such that consumption C = 50 + 0.8 Y . Assume further that planned investment I g and net exports X n are independent of the level of real GDP and constant
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