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The subway fare in your town has just been increased from a current level of 50 cents to $1.00 per ride. As a result, the transit authority notes a decline in ridership of 30 percent.
a. Compute the price elasticity of demand for subway rides.
b. If the transit authority reduces the fare back to 50 cents, what impact would you expect on the ridership? Why?
the following table presents data for wars in the market for internet security professionals.in the labor market the
Regardless of whether the short run or the long run is being considered, a firm should continue to operate as long as its price is greater than its average variable cost
assume you are a policymaker in washington dc. lobbyists for the preschoolers of america have put pressure on their
your supervisor has been asked many questions about how the economy works and why the idea of limited resources is such
find the equilibrium price and quantity of cigarette packs and what is the price received by producers? The price paid by the consumers? The new market quantity?
Consider an industry described as a duopoly consisting of two symmetric firms producing homogeneous product. Inverse demand function is P = 1500 -10Q and each firm has a marginal cost of $20 with fixed cost of zero.
jet blue corporation continuously offers fare discounts to attract customers awareness about the company increase
3500 is deposited every year with 6 interest each year.38 equal deposits are made.how much money can be withdrawn in 20
Many factors determine the supply and demand for labor. Identify and explain two factors that would increase or decrease the demand for labor. Identify and explain two factors that would increase or decrease the supply of labor.
Distinguish between an 'exact' and a 'not exact' relationship between X and Y.
you have just started work for a small company fitco that develops private fitness clubs in small towns. fitco buys or
The United States is currently recovering from its bad recession in over twenty-five years. Using the resource provided in this and earlier modules of course describe what factors
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