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When tolls on the Dulles Airport Greenway were increased from $0.50 to $1.50, traffic decreased from 31,000 to 10,000 trips a day. Assuming all changes in quantity were due to the change in price, what is the price elasticity of demand for the Dulles Airport Greenway?
Describe the end of the war and the writing of the Treaty of Versailles. What were the terms of the treaty? Which nations were involved in writing the treaty? What was the American reaction to the treaty? Why?
Three years ago Maricopa County implemented a policy to tackle the problem of particulate matter in the air. The project/policy consisted in paving and compacting some of the roads the dairy industry uses for feeding the cattle and transporting the m..
According to microeconomics, individuals tend to act in their own self interest. However, Mankiw offers no recommendations in the opening chapters of his text for how humans can re-sculpt their brains so that their expression of self interest is more..
Should sports leagues be allowed to remain as cartels? More than 100 years ago, the American legislative leaders decided that it was necessary to pass laws prohibiting "...any combinations or conspiracies in restraint of trade."
Suppose that a U.S. dollar buys more gold in Mexico than it buys in Japan. What does the law of one price imply will happen?
IS-LM-FX Model with Floating Exchange Rate... For each of the following situations use the IS-LM-FX model to illustrate, first, the effects of the temporary shock, and then the policy response. All else equal, there is an increase in the expected no..
What is one explanation for why this labor supply curve is upward sloping?
Suppose that and the goal of the policymakers is to decrease C and increase I without changing . a. Can the policymakers achieve these objectives by using only fiscal policy? Explain. b. What combination of monetary and fiscal policies are needed to ..
Using the averages of the two prices and? quantities, the price elasticity of demand for CDs is?
If the demand for a crop is inelastic then farmers could increase revenue by reducing the supply of the crop ...is that correct thinking, but regarding income
On December 31, Belh Klemkosky bought a yacht for $100,000 She paid $14,000 down and agreed to pay the balance in 15 equal annual installments.
Sony, Inc. estimated the demand for its personal computers and computed these point elasticities: own price elasticity=5(in absolute value), cross price elasticity with software= -4, income elasticity 2.5, cross price elasticity with Toshiba laptops=..
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