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If the number of subway rides that Mary demands increases from 4 per week to 5 per week when her income increases from $50,000 to $75,000 per year, what is Mary’s income elasticity of demand for subway rides? What type of good are subway rides for Mary? If the number of subway rides that Mary demands increases from 4 per week to 5 per week when her income increases from $50,000 to $75,000 per year, what is Mary’s income elasticity of demand for subway rides? What type of good are subway rides for Mary?
q.bud owen operates buds package store in a small college town. bud sells six packs for off-premises consumption. bud
Sexual violence in jails and prisons has been discussed in the textbook in several chapters. This unit’s required reading also discusses it. Do you think that the new Prison Rape Elimination Act will make an impact in curbing this problem? Does the n..
A firm uses third-degree price discrimination to sell the same cologne under two different labels. The price elasticity of demand for `High Class' is -1.25. The price elasticity of demand for `Splash-This-Stuff-On' is -2. Which one of the following s..
q.suppose a country the total holdings of banks were as followsrequired reserves 45 millionexcess reserves 15
Suppose that the demand for orange increases. Carefully explain how the rationing function of price will restore market equilibrium.
The inverse demand function for the market is P = 120 - 2Q. There are two firms: A and B. The cost for firm A are C(qA) = 18qA, and the costs for firm B are C(qB) = 18qB. Assume that both firms choose quantities simultaneously. What is each firm's be..
Question: What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.)? What fiscal policies and monetary policies would be appropriate at this time?
Do the hold out values fall within the forecast 95% confidence limits?
The U.S. Surgeon General issues a report stating that tomatoes prevent colds. What is the effect on the market for tomatoes? b. A new type of robot is invented that will pick peaches. What is the effect on the market for peaches?
What does the term unemployment mean to you? Do a little research and find the current unemployment rate and share with your classmates.
One tractor to be considered is an International Harvestor. It has an initial cost of $38,000 and an annual maintenance of 100 with a salvage value of $17,000. It's useful life in years is 25. What is the value/cost closest to the annual worth of the..
Explain with a graph (showing MR, MC and P) and a verbal explanation. how a ticket price ceiling placed on a monopoly sports franchise (that does not sell out its games) may actually lower ticket prices and raise attendance. Assume that marginal cost..
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