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The total operating revenues of public transportation authority are $100 million while its total operating costs are $120 million. The price of a ride is $1, and the price elasticity of demand for public transportation has been estimated to be -0.4. by law, the public transportation authority must take steps to eliminate its operating deficit. (a) What pricing policy should the transportation authority adopt? (Should the transportation authority increase or decrease the price per ride based on the price elasticity of demand?) (b) What price per ride must the public transportation authority charge to eliminate the deficit if it cannot reduce costs? (Increase the price of a ride from $1 to be $1.50, and 50 percent increase in price. Given the price elasticity of demand of -0.4, calculate the percentage change in the ride and the total new rides with the original rides being 100 million = $100 milion/$1) using equation: point price elasticity of demand = Ep=change in quantity/ change in price times price/quantity. Then use the total new rides time the new price of $1.5 to obtain the new total revenue.
Find the equation of the new demand curve for Chevrolets. Plot the new demand curve, D1 c' and, on the same graph, plot the curve for Chevrolets, D c'. found in 2 (d).
Estimate the b coefficints of the non-linear regression and do a statistical analysis of the coefficients and what is the implication of the non-liniear regerssion to MPC?
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000-200P where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard..
Which of the following was an outdated notion regarding open source software and has been shown to be inaccurate? a. Open source software is free and its code is available for anyone to look at and potentially modify.b. Open source software code can ..
Address the following questions. Remember to cite any sources used, including the textbook (APA format is not required, but it is recommended). Choose a product and supplier from whom you would import the product.
Studies of the effects of immigration into the United States from Mexico tend to find that the big winners are the immigrants themselves. How might things change if the border were open, with no restrictions on immigration.
Will fields with both oil and gas have greater difficulties in unitization, than the fields with oil or gas alone? Explain.
These two questions are about population proportions.
"Suppose Y = $200, C = $140, G = $25, x-m = -5, and T = $25. What is Sp? What is I?" Here is the answer:Yd = Y - T | C + Sp = Y - T | Sp = Y - T - C,Sp = Y - C - T = 200 - 25 - 140 = $35,I = Sp + (T - G) + (x-m) = $35 I = $35 + 0 - 5 = $30
This first assignment is to gather/provide information regarding the XYZ University’s marketing objective (to increase enrollment). You are to clearly define/describe the competitive advantage of the XYZ University and its target market. You need to ..
Use the arc-approximation formula to calculate the price-elasticity of demand coefficient of a firm's product demand between the (quantity,price) points of (50, $10) and (54, $8).
Give some examples of waiting lines in everyday life. What decisions should managers of such systems consider? Try to consider the production line as well as waiting in the queue.
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