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Q1. The total operating revenue of a public transportation authority is $100 million while its total operating cost is $120 million. The price of a ride is $1, and the price elasticity of demand for public transportation has been estimated to be -.04. By law, the public transportation authority must take steps to eliminate its operating deficit is asking should the transportation authority increase or decrease the price per ride based upon the price elasticity of demand.
Q2. Suppose that John's MPC is constant at 3/4. If his breakeven point occurs at $7,000 how much will John have to borrow when his income is $3,000?
The narrator is consumed by the idea that human begings do not actually have free will. How is his free curtailed on the nadir, and how does he fight back.
In 2012, Balnur taught music and earned $20,000. She also earned $4,000 by renting out her basement. On January 1, 2013, she quit teaching, stopped renting out her basement, and began to use it as the office for her new Web site design business.
You complain that the current labor contract specifies a full hour for your lunch break and you still have over 15 minutes left.
Identify your fixed and variable costs at your fast food restaurant, and explain the changes to each of these costs, given the increased demand.
Find the subgame perfect equilibria of the variant of the game in which the post-entry competition is a game in which each firm chooses a price, rather than an output.
Assume there are no other countries willing to trade goods, so when there is no trade between these two countries, each country consumes the amount of wheat and clothing it produces.
Use the two big questions of economics and the economic way of thinking to answer the following questions about the economic life of a homeless man.
Evaluate whether and to what extent the human failures that led to the disaster can and will be corrected.
Avoid having developed economies regress to a Smoot-Hawley type of isolationism or protectionism to avoid job losses in import-competing sectors.
While the population variances are unknown, we will assume they are equal.
The market demand and supply function for VCR movie rentals are: QD= 10 - 0.04p and QS 3.8P = 4. Calculate the equilibrium quantity and price.
If other people exploit the same opportunity, what will happen to the cost in Thailand as well as in Malaysia.
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