I S16 Di are the original supply anddemand curves, what happens to theIf S1& D1 are the original supply anddemand curves, what happens to theequilibrium price if supply shifts andequilibrium price if demand shifts andincreases to D2 while supply remains thesame?increases to S2 while demand remains thesame?It increasesIt increasesIt decreasesIt decreasesIt stays the sameIt remains the same*S16 D1 are the original supply anddemand curves, what happens to theequilibrium quantity if demand shifts to 02while demand remains the same?If S16 D1 are the original supply anddemand curves, what happens to theequilibrium quantity if supply shifts andincreases to S2 while demand remains thesame?52P2DID2Q1.2It increasesIt increasesIt decreasesIt decreesesIt remains the samet remains the same........O OO O OO O OO O O

NOTE1: Since we only answer up to 3 sub-parts, we’ll answer the first 3. If S1 &D1 are the…

If S1& D1 are the original supply and If S16 D1 are the original supply and demand curves, what happens to the demand curves, what happens to the equilibrium price if demand shifts and increases to D2 while supply remains the equilibrium price if supply shifts and increases to $2 while demand remains the same? same? It increases It increases It decreases R decreases It stays the same R remains the same SI6 Di are the original supply and IF S16 D1 are the original supply and demand curves, what happens to the demand curves, what happens to the equilibrium quantity if demand shifts to D2 equilibrium quantity if supply shifts and increases to 52 while demand remains the while demand remains the same? same? IS PI P2 DI Q12 It increases increases It decreases t decreasen O t remains the same remains the same O O O

If S1& D1 are the original supply and If S16 D1 are the original supply and demand curves, what happens to the demand curves, what happens to the equilibrium price if demand shifts and increases to D2 while supply remains the equilibrium price if supply shifts and increases to $2 while demand remains the same? same? It increases It increases It decreases R decreases It stays the same R remains the same SI6 Di are the original supply and IF S16 D1 are the original supply and demand curves, what happens to the demand curves, what happens to the equilibrium quantity if demand shifts to D2 equilibrium quantity if supply shifts and increases to 52 while demand remains the while demand remains the same? same? IS PI P2 DI Q12 It increases increases It decreases t decreasen O t remains the same remains the same O O O

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Note :Please Solve d,and e .
The New York Times reported… > Subway ridership declined by five (5) million fewer riders in December, 1995, the first full month after the price of the token increased by $.75 to $2.00 (+ 60%) than in the previous December. This resulted in a 15 % decline in riders. Also, given the price increase ($1.25 to $2.00 or + $ .75), supply did not change ! > With this information, estimate the Price Elasticity of Demand ("PED") and Price Elasticity of Supply ("PES") for subway rides; > According to your analysis, what happens to the Transit Authority’s total revenue when the fare rises? Explain ? > Why might your initial elasticity ("PED") calculation be unreliable? > If your explicit total cost is $50 M (accounting costs) and $60 M economic costs, based on the token increase, are you now generating enough revenue to cover your operating costs? > What is the Profit / Loss turnaround ? Interpret your results.. * Hint: Formulas to use are TR – TC = Profit; *…
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