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Question: You are the city manager and need to improve the total revenue of the services provided to the area residents. Your services include water, garbage collection, and electricity. You are well aware of the inverse relationship between prices charged by the city and the level of these services used. Using the elasticity concept explain, in detail, how you would go about raising the city's revenue from these services. Provide any graphics or other visuals to support your answer.
Directions to student: The final paragraph (three or four sentences) of your initial post should summarize the one or two key points that you are making in your initial response. You will be writing three or more discussion posts per week.
Your main post must be two to three substantive paragraphs 150-200 total words and include at least two APA-formatted citations/references. Please follow up with two subsequent replies to colleagues. Each reply should consist of a relevant paragraph containing 100 words or more.
Briefly state and justify your position on each of the following proposals: a) Women and minorities should be paid the same wage as white males, provided the work is comparable. b) The United States should close its boundaries to all immigration. c) ..
Cory has the utility function U(X,Y) = X + 16*root(Y) , where X is the quantity of water consumed, and Y is the quantity of coffee consumed. Let the price of water be Px = 1 and the price of coffee be Py = 4. Let I represent income. If I = 8 what are..
Think of a relevant example in your own life of how a change in the market
A network carrier serves some small cities close to its hub with regional jets which have much higher seat-mile-costs (CASM) than larger mainline jets. The average fare from these cities to the hub does not cover fully allocated costs. Is this ration..
How can we slove as detailed work in managerial economics subject chapter 4 and 5
Which arrangement do you think will best serve the interests of students? Explain.
The nation of Upstandia uses kroner for money and its tax code is such that a person making 100,000 kroner per year pays 40,000 per year on income taxes; a person making 200,000 per year pays 70,000 kroner per year and a person making 300,000 kroner ..
1. The Harley-Davidson motorcylce company, which had a copyright on the word "hog", applied for the exclusive rights to its engine sound.
In the United States, what are the two monetary aggregates called? What types of assets are included in each? Who compiles and reports these monetary aggregates? How often?
What does gross domestic product (GDP) tell us? How did GDP change from 2008? What caused these changes? What is real GDP? What was real GDP in 2008 and has it changed since 2008? What was national income (NI) for 2008? What does national income tell..
What is the difference between the short run and the long run? Explain the difference between total product, marginal product and average product. What is the relationship between total product, marginal product, and average product shown by the law ..
Explain demand theory. Discuss factors that cause changes in demand and quantity demanded.
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