NCAA restrictions successfully keep payments to athletes low because: a. The demand for college athletes is relatively low due to fan preferences for professional sports b. The supply of college athletes is highly elastic at a low wage c. Tuition and fees have been fairly flat over the previous ten years d. The supply of college athletes is fairly inelastic

When JMU decreased its tuition from $300 per credit to $250 per credit the enrollment increased from 20,000 to 30,000. Explain if JMU education is elastic or inelastic.

how to calculate and interpret the following elasticities : oElasticity of the cost of living with respect to the workforce oElasticity of the urban wage with respect to the size of the workforce oThe wage elasticity of labor supply

A baseball team plays in a stadium that holds 72000 spectators. With the ticket price at $8 the average attendance has been 29000. When the price dropped to $6, the average attendance rose to 36000. Assume that attendance is linearly related to ticket price. What ticket price would maximize revenue? $ Submit Question

a.Examine the ways in which a business might use information about the different elasticities of demand for its product in its decision making. b.Explain why the prices of agricultural products tend to fluctuate more than the prices of manufactured goods.

If the elasticity of the demand for labor is -0.2,   a. Each 10% increase in the wage decreases employment by 2% b. Each 10% increase in the wage decreases employment by 20% c. Each 20% increase in the wage decreases employment by 10% d. Each 10% increase in the wage decreases employment by 0.2%

11. Calculating the price elasticity of supply Yakov is a volunteer fire fighter living in Chicago who teaches clarinet lessons to supplement their normal income. At an hourly wage rate of $40, they are willing to teach 6 hours per week. Upping the wage to $55 per hour, they are willing to teach 8 hours per week. Using the midpoint method, the elasticity of Yakov's labor supply between the wages of $40 and $55 per hour is approximately that Yakov's supply of labor over this wage range is which means

Price ($/visit) 12 $ 10 8 2 0 1 Elastic 2 Unit Elastic 3 4 Inelastic 5 Quantity (visitors/day) 6 7 What price should you charge if your goal is to maximize your revenues from tickets sold? Instructions: Enter your answer as a whole number. 6 per visit.

11. Calculating the price elasticity of supply Yakov is a retired teacher living in Houston who works as a caddy to supplement their normal income. At an hourly wage rate of $40, they are willing to caddy 1 hours per week. Upping the wage to $65 per hour, they are willing to caddy 4 hours per week. Using the midpoint method, the elasticity of Yakov's labor supply between the wages of $40 and $65 per hour is approximately means that Yakov's supply of labor over this wage range is which

Restrictions on payments to college athletes: a. Increase the supply of college coaches, causing coaches’ salaries to fall b. Increase the demand for college coaches, causing coaches’ salaries to rise c. Have no impact on the demand for college coaches d. Decrease the demand for college coaches, causing coaches’ salaries to fall