Good X sold for $40 in 1957. The CPI in 1957 was 27.6 and the CPI in 2009 was 214.537. What was the price of good X in 2009 dollars? A. $514.60 B. $270.92 C. $1,201.60 D. $310.92

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PRICE (Dollars per room) 500 450 400 350 300 250 200 150 Demand Graph Input 1001 Market for Big Winner's Hotel Rooms Price 300 (Dollars per room) Quantity 200 Demanded (Hotel rooms per night) Demand Factors Average Income 50 (Thousands of 100 dollars) 50 Airfare from YYZ to 200 LAS 0 (Dollars per 0 50 100 150 200 250 300 350 400 450 500 roundtrip) QUANTITY (Hotel rooms) Room Rate at Lucky (Dollars per night) 250 For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Big Winner is charging $300 per room per night. If average household income increases by 20%, from $50,000 to $60,000 per year, the quantity of rooms demanded at the Big Winner rooms per night to rooms per night. Therefore, the income elasticity of demand is from , meaning that hotel rooms at the Big Winner are good. If the price of an airline ticket from YYZ to LAS were to increase by 10%, from $200 to $220 roundtrip, while all other demand factors remain at…

Even before the pandemic, bicycle supply chains were strained. Why was this? Check all that apply. Falling barriers increase the bargaining power of business firms by decreasing the incomes of consumers. Many bikes are made in China, and former President Trump's high tariff rate forced manufacturers to find alternate production locations. O Making bikes is still an artisanal process, so craft bike makers could not keep up with the demand. Americans prefer to drive gas trucks rather than bike.