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There is a large number of commuters who decide to use either their car or the tube. Commuting by train takes 70 minutes whatever the number of commuters taking the train. Commuting by car takes C(x) = 20 + 60x minutes, where x is the proportion of commuters taking their cars, 0 ≤ x ≤ 1.
a. Plot the curves of the commuting time by car and the commuting time by train as a function of the proportion of car users.
b. What is the proportion of commuters who will take their car if everyone is taking her decision freely and independently so as to minimize her own commuting time?
c. What is the proportion of car users that minimizes the total commuting time?
d. Compare this with your answer given in part b. Interpret the difference. How large is the deadweight loss from the externality?
e. Explain how a toll could achieve the ancient allocation of commuters between train and car and be beneficial for everyone.
Freedom to trade internationally adds to the consumers' choices available for purchasec. All of these are correctd. Typically, it is belived that when countries trade with one another, ther eare gains in production efficiency
We wish to apply negative feedback with K = 1 around the three-stage amplifier shown in Fig. 12.67(a). Neglecting other capacitances and assuming identical stages, plot the frequency response of the circuit and determine the condition for stabilit..
Suppose the demand for a product is given by P = 30 - 2Q. Also, the supply is given by P = 5 + 3Q. A) What is the equilibrium price and quantity of the product B) What is the price elasticity of demand at the equilibrium price
If the t ratio for the slope of a simple linear regression equation is equal to 1.614 and the critical values of the t distribution at the 1% and 5% levels of significance, respectively are 3.499 and 2.365, then what is the slope
The Micro Brewing Corporation asks you to forecast changes in consumer beer purchases associated with a proposed price change. You conduct a survey and find that if the price of a six-pack increases from $5.50 to $7.50, the quantity demanded.
assume the following is-lm modele expenditure sectorsp c i g nxc 110 23ydyd y - ta trta 14y 20tr 80i 250 -
calculate the demand elasticities for the shifted points.
Health Care Information Systems are important in dispensing of information throughout the organization. You will develop a research paper on a health care technology that has become essential to the sharing of information via electronic communicat..
What are the arguments on both sides of this debate?
The target word length is about 2000 words, Vancouver style . You are encouraged to obtain information from sources other than the class notes. Please cite all sources in your list of references.
When the price of oranges increases from $1.00 per pound to $1.50 per pound, quantity demanded falls from 500 pounds to 400 pounds. Calculate the price elasticity of demand. Is the demand for oranges price elastic, inelastic, or unit elastic.
1. graph the information for consumption(C) and the consumption and investment(C-I) schedule. 2. Graph the saving and investment schedules. Show the equilibrium point. What is the income,savings, and investment at equilibrium
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