Answer:
A) -0.55
B) The negativity in the estimated elasticity suggests that for every 1% increase in the price of transport there will be a corresponding 0.55% decrease in the number of Commuters
Explanation:
Given data:
current fare (P0) = $4
hiked fare (P1) = $6
change in fare = $2
number of rides before increase ( Q0 ) = 10000
number of rides after increase ( Q1 ) = 8000
change in rides = 2000
A) The estimated elasticity of demand for MRT rides using the midpoint /ARC method
Mid point method = [ ( Q1 - Q0 ) / ( Q1 + Q0 ) ] / [ (P1 - P0 ) / (P1 + P0 ) ]
= [ - 2000 / 18000 ] / [ 2 / 10 ]
= - 1000 / 1800 = - 5 / 9 ( estimated elasticity )
= - 0.55
B) The negativity in the estimated elasticity suggests that for every 1% increase in the price of transport there will be a corresponding 0.55% decrease in Commuters
<span>She can expect a linear growth (slow but steady) in her investment. Michelle's interest in a simple interest investment is the amount she accrued on deposits with a certain interest rate. It is based on the original sum of money known as the "principal" which she invested. When someone make a payment on a simple interest loan, the payment goes through that month's interest, and the remainder goes toward the principal. Each month's interest is paid in full so it never accrues-- compounding doesn't occur. There is a big difference in the amount of interest payable on a loan if interest is calculated on a compound rather than on a simple basis which is what simple interest entails and this is why simple interest doesn't accrue as much as compounding your interest since the Interest is calculated only on the principal amount.</span>
Answer:
The unemployment rate is 9%
Explanation:
First it is important to know that the total labor force consists of individuals who are employed and unemployed.
The type of persons that are not included in the labor force are the Students, homemakers, retirees and discouraged workers.
The ones that are included are the employed full time, part time workes, the persons out of work and the ones actively looking for work
The Total labor force then is = employed full time + employed part time + out of work and actively looking for work
Total labor force = 122 million + 30 million + 15 million
Total labor force = 167 million
To calculate then the unemployment rate you have to use the following equation:
unemployment rate= <u>unemployed</u>
total labor force
unemployment rate= <u>15 million</u>
167 million
unemployment rate= 9%
Answer:
Explanation:
You should be able to use the customers feedback, research the competition and make adjustments to alhambra's Fresh Mex menu, service and pricing. At this point we would call this a full scale market research on your competitor and how you can bring to the business a unique selling point, which will put Alhambra's Fresh Mex at an advantage point