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The new york times reported (Feb 17 1996) that subway ridership declined after a fare increase: nearly four million fewer riders in Dec 1995, the first full month after the price of a token increased 25 cents to 1.50 than in the previous Dec, 4.3 percent decline. a. use this data to estimate the price Elasticity of demand for subway rides. b . according to your estimate what happens to the transit authority's revenue when the fare rises? c. Why might your estimate of the Elasticity be unreliable?
Suppose that a natural monopolist was required by law to charge average total cost. On a diagram, label the price charged and the deadweight loss to society relative to marginal cost pricing. Briefly explain your diagram and comment on the results..
Example of market failures. In each case, identify the type of market failure and explain why it compromises efficiency.
Why do business departments have more money than other aepartments What economic measures can be taken to relieve the differences in salaries
question 1.you are at the tail end of your career working as a high priced consultant for a firm that you are partner
Which of the following statements conforms to utility theory? In which market structure model may firms earn economic profits in the long run?
explain several dimensions of the shareholder-principal conflict with manager-agents known as the principal-agent
If the jeans sell for $35 a pair and the competitive market wage is $250 per week. how many workers should stone hire? how may pairs of jeans will the company produce each week
Suppose that the consumer spending initially rises by $5 billion for the very 1 percent rise in household wealth and the investment sending usually rises by $20 billion for every 1 percentage point fall in the real interested rate.
If the production function is Q=K^.5 L^.5 and capital is fixed at 1 unit, then the average product of labor when L=36 is?
If a firm charges less than the market price, it loses potential revenue. If a firm charges more than the market price, it loses all its customers to other firms.
A monopolist faces the price equation: P=1,000-0.5Q and total cost: C=50,000 +100Q + .4Q^2. A. Determine the price and output that maximize total revenue, and the level of profit. B. Determine the price and output that maximize profit and the leve..
what is an html text editor? what is it used for and how does it compare to a regular text editor? why are text files
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