International ticket prices between 10 months and three months before departure, the average price of tickets sold range between about $________and $_______. Then about _______________ before departure, airlines start raising.prices.
Fill in the blank(s) with the appropriate word(s).
Ans: 1,000, 1,150, three months
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The text states that the Herfindahl-Hirschman Index (HHI) for electronic computers is 680, while the HHI for chocolate is 2,188 . We can interpret this to mean that
a. people buy more chocolate than computers b. the price of computers is higher than the price of chocolate c. the demand for computers is relatively more inelastic than the demand for chocolate d. market power is more heavily concentrated in the chocolate market than in the computer market e. computers are more of a necessity than chocolate
A CPI that equals 1.34 in 2016 (when 2010 is the base year) means that:
A. prices in 2016 are 34 percent higher than in 2015. B. the average level of prices is 34 percent higher in 2016 than in the base year. C. the CPI equals $1.34 in 2016. D. the inflation rate in 2016 is 134 percent.
Recall the Application about the manufacture of fake killer whales used to scare sea lions off the Washington coast to answer the following question(s).Recall the Application. If a fake killer whale to be used to scare sea lions away from steelhead and other threatened and commercially valuable species cost $11,000 for the mold and $5,000 for materials for each fake killer whale made, then the variable cost of producing a fake killer whale is:
A. $5,000 B. $16,000 C. $11,000 D. $21,000
Assume a study indicates that attending a class on blackjack strategy improved average winnings by 50 percent. If the null hypothesis is true and the p-value for the 50 percent improvement in winnings is 0.04, then there is a ________ chance of improving your blackjack winnings by 50 percent.
A. 0.2% B. 0.4% C. 4% D. 20%