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The price elasticity of demand for urban transit fares has been estimated to lie between -0.1 and -0.6. Based on these results, give an economic argument for raising transit fares. What political arguments might local governments and transit authorities encounter in opposition to these economic arguments?
An increase in the market price of men's haircuts, from $15per haircut to $25 per haircut, initially causes a local barbershop to have its employees work over time to increase the number of daily haircuts provided from 35 to 45. What is the short-run..
the achievement of which will not selectively also materially benefit the membership or the activities of the organization" are called.
Which of the following factors is most likely to worsen (make more negative or less positive) a (home) country's net international investment position?
Give reasons to elucidate what the government would have to do to keep the unemployment rate at 3 percent.
the impossible trinity refers to the idea that a country can simultaneously pursue only two of the three following
Describe a Pigovian taxes. If Pigovian taxes are imposed in the presence of negative externalities then does this create a deadweight loss? Describe a real-world situation where a Pigovian tax will be applicable. Show using a diagram. What might be t..
Why is that the pre-trade production points have a bearing on comparative costs under increasing cost conditions but not under conditions of constant costs?
Leon Festinger's social comparison theory suggests that we compare ourselves to members of a reference group in order to assess our own behavior. What does your choice of reference groups tell you about the concept of social comparison?
The International Parcel Service has installed a new radio frequency identification system to help reduce the number of packages that are incorrectly delivered. What is the FW of this investment? b) What is the IRR of the system? c) What is the disco..
Consider a survival game in which a large population of animals meet and either fight over or share a food source. There are two phenotypes in the population: one always fights, and the other always shares. Draw the payoff table for the game played b..
The many loopholes present in the federal income tax system prior to the 1986 tax reform caused all of the following except
Illustrate we know about the effects of mandatory seat belt laws, which of the following groups would be most likely to mount a campaign to repeal those laws.
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