One year, the government boosted regulated taxi fares in New York City by 15 percent with the expectation that the total revenue from taxi rides would also increase by 15 percent
The taxi commission that authorized this fare increase must have believed that the demand for taxi service was A) elastic, but not perfectly elastic.
B) inelastic, but not perfectly inelastic.
C) unit elastic.
D) perfectly inelastic.
D
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The figure above shows Cindy's demand for CDs per year
a. What is Cindy's consumer surplus on all the CDs consumed if the price of a CD is $12? b. What is Cindy's consumer surplus on all the CDs consumed if the price of a CD is $9? c. What happens to Cindy's consumer surplus when the price of a CD falls?
A monopolist has total cost TC = Q2 + 10Q + 100 and marginal cost MC = 2Q + 10 . It faces demand Q = 130- P (so its marginal revenue is MR = 130 - 2Q). Its profit-maximizing output
a. 30 b. 25 c. 20 d. 10
The Celler-Kefauver Act of 1950 amended the:
a. Sherman Antitrust Act. b. Clayton Act. c. Federal Trade Commission Act. d. Robinson-Patman Act.
Growth accounting is seen a useful way to estimate this inputs contribution to growth:
A. technology. B. physical capital. C. labor. D. land.