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Skyscraper City has a subway system, for which a one-way fare is $1.50. There is pressure on the mayor to reduce the fare by one-third, to $1.00. The mayor is dismayed, thinking that this will mean Skyscraper City is losing one-third of its revenue from sales of subway tickets. The mayor’s economic adviser reminds her that she is focusing only on the price effect and ignoring the quantity effect. Explain why the mayor’s estimate of a one-third loss of revenue is likely to be an overestimate.
Why are assumptions made when utilizing a mode also thinking about economic activity. Textiles also apparel accounts for Illustrate what fraction of industrial employment in Pakistan.
Assume you just finished your third plateful of Thanks giving dinner also it yielded zero units of additional satisfaction.
Find out the equation for the linear supply curve which fits this information. What would the new equilibrium price and quantity be if supply were to increase by 20%.
What is the nominal GDP in 2011? What is the real GDP in 2011 (using 2010 prices)?
Suppose which the owners of the only gambling casino in Wisconsin spend large sums of money lobbying state government officials to protect their monopoly of gambling.
What is the difference between electronic commerce and electronic business according to Becker and Sampson? Briefly compare B2C, B2B, and B2G electronic commerce?
q1. suppose you want a lump sum payment of 100000 three years from now. rounded to full dollars how many current
Elucidate how many units does each industry produce, elucidate how many industries will exist in this marketplace.
After 25 years explain how much larger is Country B's economy the Country A's economy. Why is the answer not 25 percent.
Suppose you are studying the market for shoes. Two events take place simultaneously. First, price of leather decreases, and second, consumers' income increases. What will happen to the equilibrium price and equilibrium quantity of shoes?
Suppose robotic technology improves the results of abdominal surgery - less time to perform the surgery, faster recovery times, and fewer mistakes. What is the impact on the market for abdominal surgery usin this new technology?
Why would a US company choose to export a product to India rather than license India the right to produce the product locally
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