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
Answer and Explanation:
An agency has the power to execute the law and to bring proceedings against violators. This may be accomplished with no significant constitutional limitations on how the agency is to conduct its investigation of infractions. A search warrant is never required for subject matter observed from a public place; therefore, aerial photography of Williams' place of business can be used by the FTC as proof of wrongdoing. The FTC may also demand the production of relevant papers and documents by Williams, since the constitutional guarantee against unreasonable searches and seizures does not afford much protection with regard to papers and records being investigated by an agency. Lastly, Williams has no right to a jury trial in an administrative hearing.
Answer:
B)Unqualified applicants will need explanations about why they did not get the job.
Explanation:
From the question we are informed Auto parts manufacturer JEG Inc. who has a number of vacancies at lower management levels and wants to fill the positions from within the company itself rather than recruit externally. The company plans to e-mail the job specifications to all employees and post the jobs on the company Web site. In this case, what could weaken the company's decision, is that Unqualified applicants will need explanations about why they did not get the job.
Answer:
Small-scale and flexible; Large-scale and inflexible.
Explanation:
Job shops tend to be <u>small scale and flexible</u> while continuous processes tend to be <u>large scale and inflexible</u>.
Job Shop: It is defined as small manufacturing units that produce a specific and customized product in small batches. Most of the products produced in this process have a unique set up. The estimation of costs is generally most difficult when the Job shop process has been chosen.
Continous processes: It is a streamlined process that has a production flow of products from one step to another without any interruption. A larger quantity is produced at one time, not in batches. It requires sophisticated control system.
Answer:
Redlining
Explanation:
The redlining is the practice of systematic denial in the United States and the Canada.
In redlining the persons belonging to the specific geographical locations or dealing the specific geographical area are denied by the bank or other sectors to lend money or provide services along the region or in the neighborhood.
