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Your firm resells airline tickets during the busy summer travel season. Your manager argues that the firm should charge, for the same flight route, a single price. This approach, your manager argues, would simplify pricing and lower administrative overhead. Another manager argues that the firm should increase prices for those who purchase close to the date of travel, and lower prices for those who book two weeks ahead of travel. Both turn to you and ask, "who is right?" Provide your answer and explanation for your answer.
When do you use the Overloads keyword? Describe method overloading. Why would you want to overload a method?
The wage in Mexico is $5. The wage in the U.S. is $20. Given current employment, the marginal product of the last worker in Mexico is 100, and the marginal product of the last worker in the U.S. is 500.
Assume initial equilibrium in the domestic automobile market. Using supply and demand analysis explain what will happen to both the equilibrium price and quantity if the following happens: You hear on the news that the Japanese have increased the pri..
Chris is preparing for a comprehensive course exam by reading a textbook with chapters of equal length and difficulty. The number of chapters she can comprehend and master when studying is: (1) hour one: 1.5 chapters; (2) hour two: 2.0 chapters; (3) ..
President Obama proposes a higher tax rate on wealthy people. Their income tax may increase from 35% to a level close to or exceed 40%. What is the effect of this income tax rate increase on interest rates in the municipal bond market relative to tho..
Assume your salary is $55,000 in 2012 and $160,000 in 2042. If inflation has averaged 2% per year, what is the real or differential inflation rate of salary inc
The most you would be willing to pay for having a freshly washed car before going out on a date is $7. The smallest amount for which you would be willing to wash someone else’s car is $4. You are going out this evening and your car is dirty. How much..
Some city governments require that all city employees live within the city limits. What impact does this have on the elasticity of supply and or demand for employees of a city with such a requirement?
Assume the following values of an economy. What is the equilibrium income? What is the value of saving at equilibrium? Does the saving and Investment Identity hold true at equilibrium income OR GDP?
In Lookout, CA there are three car owners, one car thief, and an insurance company. Every year, one, and only one, car gets stolen with equal chance. The insurer offers a $12,000 policy at a $5,000 premium. What are the chances of turning negative pr..
Suppose that Conan reduces its marginal cost to $3. What are the new equilibrium prices?
In the economy of Mungo, discussed in your workbook, there is a third person called Ike. Ike has a red income of 40 and a blue income of 10. (Recall that blue prices are 1 bcu [blue currency unit] per unit of ambrosia and 1 bcu per unit of bubblegum...
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