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1. During spring break, students have a price demand elasticity for a trip to Florida of 3. The general public has a price demand elasticity
2. Calculate how much an airline charges for student tickets if the price it charges the general public is $360.
Suppose that the demand for and supply of bonds both change with the state of the business cycle. In economic expansions, the demand for bonds is given by the equation D = 200 + 2,000r and the supply of bonds is S = 500 - 1,000r.
What amount would you need to invest today in order to set asside sufficient funds now to meet the future obligations Assume your money could earn 5.0% per year in low risk securities in the 7 year period in question.
the general price inflation in our economy, the purchasing power of the dollar shrinks with the passage of time. If the average general inflation rate is expected to be 7% per year for the foreseeable future, how many years will it take for the do..
Assume that demand for a commodity is represented by the equation P = 10 - 0.2 Q d, and supply by the equation P = 2 + 0.2 Qs where Qd and Q s are quantity demanded and quantity supplied, respectively, and P is the Price. Use the equilibrium condi..
A city engineer knows that she will need 25 million in 3 years to replace toll booths on a toll road in the city. Traffic on the road is estimated to be 20 million vehicles per year. How much per vehicle should the toll be to cover the cost of the..
if you borrow $5000 and agree to repay the loan in five equal annual payments at an interest rate of 11%. what will be the annual payment be what if you make the first payment on the loan at the end of second year
Sean Bell invested $10,000 on a blue chip stock five years ago and paid a commission of $90. He sold it today for $14,192.20 and paid the same commission, exactly 5 years and 4 months since the stock was bought.
There are two sectors of the construction industry that currently pay their employees the market-clearing wage. The demand for labor in each sector is MRPL = 12 - L,where L = the number (in thousands) of workers. The supply of labor in each sector..
Overheard at water cooler: My regression model of demand is better than one that the consultant prepared for us because it has a higher R2.
A company makes a piece whose income is 100-0.02n marginal and total cost is \(0.0002n^{2} 10000\) . Where n is the volume of production. What is the volume of production to minimize unit production cost, maximize profit and break even point
The Australian government administers two programs that affect the market for cigarettes.
You are considering opening a new business to sell golf clubs. You estimate that your manufacturing equipment will cost $100,000, facility updates will cost $250,000, and on average it will cost you $80 (in labor and material) to produce a club.
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