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Many proponents of public transit argue that the service should be provided free to the public in metropolitan areas in order to reduce pollution and traffic congestion. Estimates by economists found the price elasticity of demand for public transit to be 0.17. The economists also found the cross-price elasticity of demand with the automobile to be 0.10.
what will free public transit mean to the use of the public transportation service?
What will free public transit mean to the use of the automobile?
New Light Inc. has just developed a solar panel capable of generating 200% more electricity than any solar panel currently on the marketplace.
Explain why do economists include only final goods in measuring GDP for a particular year and why dont they include the value of stocks and bonds sold?
What are the pros and corns of a market economy in comparison with a command economy.
Cheaper used textbooks raises the marginal cost (MC) of attending CSULB. c. Cheaper used textbooks lowers the marginal benefit (MB) of attending CSULB. d. Cheaper used textbooks raises the marginal benefit (MB) of attending CSULB.
Suppose that in a city there are 100 identical self-service gasoline stations selling the same type of gasoline.
Suppose Japan agreed to a voluntary export restriction which reduced US imports of Japanese steel by 10 percent. What would be the likely short-run effects of that VER on the U.S..
Bertand: If the firms compete on the basis of (continuous) price, what is the Nash equilibrium if the game is played once? A finite number of times? Explain clearly.
The market for hog hats is competitive and demand is given through P=75-Q while supply is given by P=15+2Q. Determine the equilibrium price and quantity in this market?
Select an article in a newspaper or magazine that discusses a government policy on goods or services.
Enrodes is a monopoly provider of residential electricity in a region of northern Michigan. Total demand by its 2 million households is Q4 = 1,000 P and Enrodes can produce electricity at a constant marginal cost of $2 per megawatt hour.
Describe when and why central banks buy either their own currency or the currency of another nation in an effort to control exchange rates.
"A substantial number of relatively unskilled persons reported that they can't find work. At the same time, there're many unfilled jobs for relatively skilled people. Apparently, the problem is that there're more unskilled peop..
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