In July in San Francisco, for example, only ____% of Southwest flights arrived on time, compared with 75.7% for United Airlines, the largest carrier there.
Fill in the blank(s) with the appropriate word(s).
Ans: 44.9
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The number of taxicabs in Motorville and the taxicab fares are regulated. The fare currently charged is $5 a ride
Motorville taxicab drivers want to obtain government's permission to raise the fare to increase their revenues and ask you to be their economic adviser. After studying the market, you come up with the following demand schedule for taxicab rides: a) Calculate the price elasticity of demand for taxicab rides as the fare rises from $5 to $6. (Use the midpoint method in your calculations.) Is the demand price elastic or inelastic for this fare rise? b) What happens to the taxicab drivers' total revenue if the fare rises from $5 to $6? How can you use your answers in part a to answer this question? Should the drivers try to obtain permission to raise the fare? c) Calculate the price elasticity of demand for taxicab rides as the fare falls from $5 to $4. (Use the midpoint method in your calculations.) Is the demand price elastic or inelastic for this fare decrease? d) What happens to the taxicab drivers' total revenue if the fare falls from $5 to $4? How can you use your answers in part c to answer this question? Should the drivers try to obtain permission to lower the fare? e) What fare will maximize the taxicab drivers' total revenue? Explain.
The ________ states that the nominal interest rate equals the real interest rate plus the expected rate of inflation
A) Fisher equation B) Keynesian equation C) Monetarist equation D) Marshall equation
The Solow residual is a measure of
A) average labor productivity. B) average capital productivity. C) total factor productivity. D) the rate of growth of real GDP.
If total profit is at a maximum, then average profit is zero
a. True b. False Indicate whether the statement is true or false