When airfares between Santa Rosa and Los Angeles averages $69, the quantity consumed is 42,500 tickets. One day, an airline tax is levied equal to $10.00 and output falls to 37,000 tickets. Assume that air travelers end up paying 75% of the tax. Total taxes paid by air travelers will be ____ Total taxes paid by airlines will be ____ Calculate the price elasticity of demand and & interpret coefficient. Use the general formula, not the mid point formula

Q: Thinking in terms of economic efficiency, almost all economists agree that some government agencies…

A: The effective production and the use of commodities and supplies to minimise waste is known as the…

Q: __________ refers to any situation in which disequilibrium is caused by one aspect of a society…

A: At the marketplace, disequilibrium is the situation when there is mismatch between the demand and…

Q: By what percentage is the U.S. population projected to increase between 2014 and 2030? Do you think…

A: The United States' total population in 2013 was 316.1 million. The population of the United States…

Q: When the economy slows down heading towards a recession, then the appropriate monetary policy would…

A: During recession, the demand started to decline and unemployment started rising. Monetary policy is…

Q: tion on October 1. He is worried about the increasing forex prices, and wants to lock the forex rate…

A: * SOLUTION :-  Given that ,

Q: Draw a production possibilities frontier for a country that produces two goods: capital goods and…

A: (PPF) Frontier of Production Possibilities The production possibility frontier is a graphical…

Q: Suppose Indian government borrows 50,000/- more next year than this year. Use a supply-and-demand…

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…

Q: 1. Find the interest paid on a loan of $2000 for 1 year at a simple interest rate of 7% per year.

A: Simple interest is a straightforward method of calculating how much you owe on a loan. The concept…

Q: Explain the Elasticity of Demand?

A: Concept The theory of demand elasticity is a significant fluctuation on demand. Demand can be…

Q: Which of the following is not a way that the government has influenced labor in the United States?…

A: Government influences the labor market by creating various laws with the aim of increasing the…

Q: Define Disposable income.

A: Disposable income, otherwise called dispensable individual income (DPI), is the measure of cash that…

Q: The relationships between demand and supply of the Olympios Dollar and the exchange rate with the…

A: Demand function for dollars  : E = 8.75 - 0.03D  D = (8.75 - E  )/0.03 Supply function for dollars :…

Q: The price of coffee dropped sharply last month, while the quantity sold remained the same. Each of…

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…

Q: Calculate the capitalized cost of a project with a P3,000,000 beginning cost and an extra P850,000…

A: Capitalized cost would be the present value of all costs that are going to occur in the future…

Q: Approximately what percentage is economically recoverable?

A: economically recoverable The percentage of technically recoverable elements which could be generated…

Q: Suppose the firm's production function is Q = K¹/3L2/3, where the MPK = [2/3 and MPL 3K-2/3 13…

A: The Firm's Production function  Q=K1/3L2/3  where MPk=L2/33K2/3 and MPL=2K1/33L1/3 This Production…

Q: Given the national income m (a) Write down the value of t (b) Graph the equilibrium equ determine…

A: * SOLUTION :-  Given that ,    C = 280+0.6y  I = 80  then  E = C+I  E = 280+0.6y+80 E = 360+0.6y

Q: Current Account equilibrium is defined as CA = x₁YW + x₂Rm₁Y+ m₂R and Capital Account equilibrium as…

A: Balance of Payment function can be defined as - BOP = CA (Y, Yw , R ) + CP (i - iw )      [Implicit…

Q: HOW CASH RESTRICTION MANAGERIAL(BUSINESS MANAGEMENT)

A: The directors, or those in charge of the company's affairs, are responsible for ensuring the success…

Q: Explain DEMAND CURVE AND DEMAND SCHEDULE FOR GOURMET COOKIES?

A: The Law of demand shows that there exists a negative relationship between price and quantity…

Q: An expansionary monetary policy would be associated with ... Group of answer choices a. A rising…

A: The monetary policies are those policies which are enacted by the central bank of a country to…

Q: Use the following table to answer the question below:

A: * Option C, Q = 5 Diseconomies of scale arise when an increase in output leads to an increase in…

Q: Refer to Table 13-1. What is the average total cost of producing one widget? b. $15 a. S1 c. $16 d.…

A: Formula to be used: For all quantities, the fixed cost remains the same. TC=FC+VC  VC=TC-FC…

Q: Explain the concepts of excess sensitivity and excess smoothness that arise from the empirical…

A: The measure that depicts the act of utilization of various resources in order to satisfy the current…

Q: Name and describe two key contributions that the natural environment makes to our economies.

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: ACTIVITY TO DO: ESSAY: Explain the question in five (5) sentences 1. Identify which of the following…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: Question 1 a. What is the significance of a demand curve and a supply curve? b. Suppose $2,000 is…

A: Since you have posted multiple questions, as per the guidelines we can solve only one question( with…

Q: Can you please answer the next few parts to this question?

A: To find the equilibrium outputs we solve the reaction functions of both the firms simultaneously.…

Q: Differentiate price competition and non-price competition.

A: Price competition is defined as that in which firms compete in terms of the prices at which they…

Q: The output, Q, of a car factory, may be modeled by a Cobb-Douglas production function, Q = AKm Ln,…

A:

Q: Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The…

A: The overheads are charged to the goods and services. The prime cost includes Direct Material cost…

Q: A small company produces organic cookies. When the price is $9.00 per dozen, the average daily sales…

A: TR=p*qTR=p*x (quantity is expressed in terms of x)TR=xpNow,TC=FC+VCTC=55+(0.70x) .....…

Q: Q: Q: Q: Assume that the demand curve D(p) given below is the market demand for widgets: Q = D(p) =…

A: Given; Demand Function; Q=1604-16p Supply Function; Q=-4+8p where; p= Price Q= Quantity

Q: According to conflict theorists, global sport corporations move foreign production facilities from…

A: When talking about conflict theory, it is the theory based on individual behavior and their…

Q: 3. a. What does Mankiw believe is the most important explanation of income differences among…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What are the points of MAXIMIZATION?

A: The maximization is the point where the marginal revenue equals the marginal cost. The marginal…

Q: why is that quality delivery and price expectations of the customer should be considered in the…

A: When talking about transformation process, it refers to the process of substitution one or more…

Q: Last, extend your analysis to the long run, a period of time long enough for new coffee growers to…

A: Over the long run in a perfectly competitive market — as a result of the course of entry and exit —…

Q: sider the following contingency table for gender (male, female) and income status (low, high) based…

A: Introduction Contingency table for 90 individuals based on gender male and female and their income…

Q: Match the following zones of the concentric zone theory with the appropriate descriptions.____ a.…

A: On the basis of some generalized pattern of urban land use a number of theories have been propounded…

Q: a. Suppose that American households become more worried about the future, and they begin to save…

A: In an economy, if people become less confident about future, they tries to save some money that can…

Q: 12. Inflation-induced tax distortions Bob receives a portion of his income from his holdings of…

A: We can calculate nominal interest rates as, Nominal Interest Rate=Inflation+Real Interest Rate

Q: A nation’s population size and the affluence of its citizenseach influence its resource consumption…

A: Total impact=Personal impact×Population

Q: The Federal Reserve in the United States is distributed in how many districts? Group of answer…

A: The central bank of the United States is Federal Reserve system.

Q: Which of the following statements are true about income inequality? Choose all that apply. A. Income…

A: Inequality in terms of income refers to the manner in which a population's income is allocated…

Q: Data from the Bureau of Labor Statistics shows that U.S. income increased by 10% while consumer data…

A: * SOLUTION :-

Q: What is the price at which the product becomes too expensive for the target market?

A: Price sensitivity  Price sensitivity deals with the change in demand due to changes in the prices of…

Q: Explain Unfair Trade Practices?

A: Unfair trade practises are defined as misleading tactics used by producers and manufacturers.…

Q: 3. The economy of Country Zeta is in long-run equilibrium; however, the government is concerned…

A: In this situation, the economy of Country Zeta is in long-run equilibrium; however, the government…

Q: Which of the following is considered insurance producer misrepresentation? A. Switching from one…

A: Insurance company is the financial institutions which help to mitigate the risk of person by…