The New York Times reported (Feb. 17, 1996) thatsubway ridership declined after a fare increase:“There were nearly four million fewer riders inDecember 1995, the first full month after the priceof a token increased 25 cents to $1.50, than in theprevious December, a 4.3 percent decline.”a. Use these data to estimate the price elasticity ofdemand for subway rides.b. According to your estimate, what happensto the Transit Authority’s revenue when thefare rises?c. Why might your estimate of the elasticity beunreliable?

A small elasticity of a good rises from $8 to $12 and the quantity demanded fall from 110to90 units

According to the income elasticity formula below, Income elasticity of demand - E= change in quontity demanded + % change in income By how much will popcorn sales increase if everage income goes up by 17 percent? (Assume the income elasticity of popcom is 329) Instructions: Enter your response as a percentage rounded to one decimal place. percent MicBonk Pro 2 3. E R Y H K D B M command command

d a Goods like rice or bread are considered necessities. Which of the following is the best example of the income elasticity for a necessity? Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. b C d inferior goods (3 Question 7 +1.5 -1.5 -0.3 +0.3 Question 8 Suppose trading Pokémon cards becomes popular again and a lot of new people start collecting them. What can we expect to happen in the trading card market? 2 correct answers. Multiple answers: Multiple answers are accepted for this question