The Transportation Authority of Buck Snort, Tennessee raised the bus fares from $.80 to $1.00 on January 1, 2016. The authority’s ridership statistics show that the number of passengers riding buses decreased from 50,000 in 2015 to 38,000 in 2016. Required:

a. What is the arc price elasticity of demand for bus fares?
b. Suppose the TA did not adjust the bus fares as indicated in the original statement of the problem, but rather observed the change in ridership over the period as a result of a change in consumer incomes. Suppose you know that consumer incomes in this market were, on average, $40,000 in 2015. Further suppose that you know that the arc income elasticity over the 2015-2016 period is –2. What happened to average consumer income over this period given what you know about ridership over the period?

What cylinder head operation is the technician performing in this figure?

Consider the local telephone company, a natural monopoly. the following graph shows the monthly demand curve for phone services and the company’s marginal revenue (mr), marginal cost (mc), and average total cost (atc) curves. 0 2 4 6 8 10 12 14 16 18 20 100 90 80 70 60 50 40 30 20 10 0 price (dollars per subscription) quantity (thousands of subscriptions) d mr mc atc 8, 60 suppose that the government has decided not to regulate this industry, and the firm is free to maximize profits, without constraints. complete the first row of the following table. pricing mechanism short run long-run decision quantity price profit (subscriptions) (dollars per subscription) profit maximization marginal-cost pricing average-cost pricing suppose that the government forces the monopolist to set the price equal to marginal cost. complete the second row of the previous table. suppose that the government forces the monopolist to set the price equal to average total cost. complete the third row of the previous table. under average-cost pricing, the government will raise the price of output whenever a firm’s costs increase, and lower the price whenever a firm’s costs decrease. over time, under the average-cost pricing policy, what will the local telephone company most likely do

Conor is 21 years old and just started working after college. he has opened a retirement account that pays 2.5% interest compounded monthly. he plans on making monthly deposits of $200. how much will he have in the account when he reaches 591 years of age?