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Suppose that business travelers and vacationers have the following demand for airline tickets from New York to Boston:
Price Quantity Demanded Quantity Demandedfor business travelers for Vacationers150 2,900 1,000200 2,700 750250 2,550 550300 2,300 400
a) For business travelers, what is the price elasticity of demand between $150 and $200? Between $200 and $250? Between $250 and $300?b) Will an airline be likely to raise price for both groups from $250 to $300?
For the consumer price index (CPI) values shown, calculate the rate of inflation in each year from 1930 to 1933. Year: 1929 1930 1931 1932 1933 CPI: 51.3 50.0 45.6 40.9 38.8
"Though I'm against it for personal (Veteran) reasons. Majority of the drugs we found in Afghanistan were used to finance terrorist group.. although legalizing it would mean..less income for the terrorist and raise gdp So I'm not sure." 4. Give in..
What is the sample standard deviation of weights and calculate the change in weight
Explain a possible cause for the change in Ns 4. Estimate the elasticity of demand for B&B professionals in the macroeconomy (calculation and explanation) 5. Graph the two equilibrium conditions 2 X-intercept for Ns; Y-intercept and X-intercept for N..
suppose tht businesses buy a total of 100$ billion of the four resources(labor, land, capital and entreprenrial ability) from households. If households receive 60$ billion in wages, 10$ billion in rent and 20$ billion in interest
where QI refers to the number of games they would play if the price of a game were PI. Because of their access to credit, they would be willing to pay an up-front fee to join the club. Wizards live from pay check to paycheck and would be willing t..
In order to ingratiate himself with voters, the mayor of Gotham City decides to lower the price of taxi rides. Assume, for simplicity, that all taxi rides are the same distance and therefore cost the same. The accompanying table shows the demand a..
Discuss the relationship in the price and quantity demanded in question four on a graph. Is the relationship direct or inverse?
company is currently considering the following possible projects (which are NOT mutually exclusive). You have a budget limitation of $400,000. What is the minimum internal rate of return that a NEW project (in addition to these) would need to ea..
Assume that the John Smith, the manager of marketing division of Chevrolet at GM, estimated the given regression equation for Chevrolet automobiles:
A Man is planning to retire in 20 years. He can deposit money for his retirement at 6% compounded monthly. It is estimated that the future general inflation rate will be 5% compounded annually. What deposit must be made each month..
The Columbia Company manufactures a battery-powered saw. Due to increased demand during the past few years, Columbia has increased plant capacity for the saw to 300,000 units. The firm's expected output and sales for the next year in their normal..
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