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In 2008 tolls were raised on Bridge X. Consequently, bridge traffic decreased 40 percent and revenues rose 170 percent. Compute the price elasticity of the demand for access to Bridge X
Business Economics, Economics
What's your answer about the equilibrium change from an event which decreases both demand and supply? You don't need to provide graph here. Just describe the curve shifts and how the equilibrium price and equilibrium qua ...
Cathy buys a house (her principal residence) for $2,500,000, paying $500,000 down and borrowing the other $2,000,000 at 5% interest. If her interest expense for the year is $100,000, how much will her maximum deduction f ...
Mormons have a mission requirement to be admitted into their church. On average, the probability of converting someone is .03. How many people will Mormons on their mission have to interact with to ensure there is a prob ...
Suppose the elasticity of money demand with respect to income is 2/3. If the money supply increases by 10% and output increases by 4.5%, while the real interest rate and the expected inflation rate are unchanged, then th ...
Going to concerts and reading books take time and money. Suppose a book costs $10 and takes 3 hours to read and a concert costs $20 and takes 3 hours. For a person with $80 to spend and 18 hours for these activities: a. ...
A report claims that for the investment portfolios with a single stock had a standard deviation of 0.57, while the returns for portfolios with 31 stocks have a standard deviation of 0.325. Explain how the standard deviat ...
What are three ways that even every forecast model should be evaluated to obtain the best forecast result.
In the course of producing its output, this firm causes pollution. The government passes a law that requires the firm to stop polluting, and the firm discovers that it can prevent the pollution by hiring 0.2 workers for ...
You are the sales manager supervising a sales force of three in a kitchen appliance department. You are considering changing the compensation and would like to know if there is a significant difference in sales among the ...
A study indicates that the weights of adults are normally distributed with a mean of 140 lbs and a standard deviation of 25 lbs. Find a value of weight x such that only 20% of adults weigh less than that. A. 136 B.190 ...
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