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Given a daily traffic rate of 6000 cars, a toll of $26.00 per car, and a price elasticity of -1.4. What would be the effect of a 50% decrease in price on the traffic rate and daily revenue?
Business Economics, Economics
The government is undertaking expansionary fiscal policy. Illustrate how this action affects: The AD-AS model. The Phillips curve model. The IS-LM model. How will this change impact on economic activity the price level t ...
A company is considering producing a new product. Based on past records, management believes that there is a 70 percent chance that the new product will be successful, and a 30 percent chance it will not be successful. M ...
Research research and Sample 5000 household concerning TV shows they watch. Based on the sample 18% reported watching 60 Minutes. What is the 95% confidence interval for the proportion of all Americans that watch 60 minu ...
Why do we say there is no unemployment in our standard frictionless model? And why do we HAVE unemployment in a labor market with frictions?
Some residents of the village of Taugswater have proposed purchasing logging permits relating to a nearby wilderness area. The majority of residents agree that the purchase of permits, to be set aside and not used, is th ...
What is the difference between a positive economic statement and a normative one
Why are ideas of "modernization" (cohn, 107) and "progress" so important to the post-World War II.
How does the Monopolies Make Production and Pricing Decisions in Economics?
Let X be a continuous random variable. Suppose that we know that Pr(X 5), and how do you know? (Hint: X is not necessarily normally distributed, but you can still consider how much area is under the curve, no matter the ...
Due to the impact of Tropical Storm Harry in Caribbean, the price of sugar rises from $0.50 to $1.00 per bag and the quantity demanded falls from 1000 bags to 400 bags a. Calculate the elasticity of demand for sugar b. I ...
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p
Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As
Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int
Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As