Suppose the demand for Apples is given by QA- 100 -4 PA and the current market price is 11. What is the compensating variation associated with a loss of access to the apple market at the initial price of 117 Assume demand remains constant What is the compensating variation associated with the increase in price from 11 to 22? Assume demand remains constant

вср 5) Suppose you're an economist for a private university, and the Board of Trustees tasks you with determining how much a tuition increase would impact university enrollment for different types of students. The proposed tuition increase is 10%. The absolute value of the price elasticity of demand for legacy students, that is, students whose parents graduated from the university, is 0.15 and for nonlegacy students is 0.33. The demand curve for legacy students is elastic than the demand curve for nonlegacy students. The rise in tuition would lower student enrollment by %. for non legacy studens Less: 1.5 Less; 3.3 More; 1.5 More; 3.3 0110

10) The proprietor of the Shaw Music Mania Store calculates the demand equation for a certain brand of CDs to be q = -50p + 2000 , where p is the price it charges per disc and q is the number of discs sold in a day. Determine the maximum total annual revenue and the price at which the max revenue occurs.

If you had been hired to advise your local public transit authority on how they could raise transitrevenues and you knew the elasticity of demand for transit rides, you would be able to give a goodanswer.Explain why above statements is True, False, or Uncertain according to economic principles. Use diagrams where appropriate.