Hurricane katrina damaged a large portion of refining and pipeline capacity when it swept through the gulfcoast states in august 2005. as a result of this, many gasoline distributors were not able to maintain normaldeliveries. at the pre-hurricane equilibrium price (i. e., at the initial equilibrium price), we would expect to seea) an increase in the demand for gasoline. b) the quantity demanded equal to the quantity supplied. c) a surplus of gasoline. d) a shortage of gasoline

Upscale hotels in the united states recently cut their prices by 20 percent in an effort to bolster dwindling occupancy rates among business travelers. a survey performed by a major research organization indicated that businesses are wary of current economic conditions and are now resorting to electronic media, such as the internet and the telephone, to transact business. assume a company's budget permits it to spend $5,000 per month on either business travel or electronic media to transact business. graphically illustrate how a 20 percent decline in the price of business travel would impact this company's budget set if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour. suppose that, after the price of business travel drops, the company issues a report indicating that its marginal rate of substitution between electronic media and business travel is 1. is the company allocating resources efficiently? explain.

Peyton taylor drew a map with scale 1 cm to 10 miles. on his map, the distance between silver city and golden canyon is 3.75 cm. what is the actual distance between silver city and golden canyon?

Emily spent her summer vacation in buenos aires, argentina, where she got plastic surgery for a fraction of what it would cost in the united states. this is an example of: