MBAA 523 (ERAU)

  • MBAA 523 Problems Set 3 Answers (ERAU)

    MBAA 523 Problems Set 3 Answers (ERAU)

    MBAA 523 Problems Set 3 Answers (ERAU) If the price for some good increases by 10% and the quantity demanded falls by 5%, (a) what is the price elasticity of demand, and (b) is this elastic or inelastic? 2. Last year the US low-cost-carrier Spirit...

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  • MBAA 523 Problems Set 4 Answers (ERAU)

    MBAA 523 Problems Set 4 Answers (ERAU)

    MBAA 523 Problems Set 4 Answers (ERAU) 1. Define the short-run and long-run and provide an aviation example. 2. In the short-run, Airbus manufactures aircraft at its existing factories; however, labor and other inputs such as those components purchased...

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  • MBAA 523 Problems Set 5 Answers (ERAU)

    MBAA 523 Problems Set 5 Answers (ERAU)

    MBAA 523 Problems Set 5 Answers (ERAU) 1. For each of the following market structure characteristics, insert the correct Market Type(s). There may be more than one. Use these abbreviations:  PC – perfect competition; MC – monopolistic...

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  • MBAA 523 Problems Set 6 Answers (ERAU)

    MBAA 523 Problems Set 6 Answers (ERAU)

    MBAA 523 Problems Set 6 Answers (ERAU) 1. You compete with many firms offering similar products (monopolistic competition). An economic consulting firm has estimated the own-price elasticity for your most profitable product is -1.50. Your marginal cost...

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  • MBAA 523 Problems Set 7 Answers (ERAU)

    MBAA 523 Problems Set 7 Answers (ERAU)

    MBAA 523 Problems Set 7 Answers (ERAU) 1. Between 1995 and 1997, American Airlines competed with several low-cost-carriers on routes from Dallas/Fort Worth.  The US Department of Justice sued alleging predatory pricing.  A judge disagreed...

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  • MBAA 523 Problems Set 8 Answers (ERAU)

    MBAA 523 Problems Set 8 Answers (ERAU)

    MBAA 523 Problems Set 8 Answers 1. In oligopoly, each firm is acutely aware of the production and marketing decisions of all competitors and carefully considers the potential competitive reactions in all decisions.  Discuss whether firms in other...

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  • MBAA 523 Set 1 Homework Answers (ERAU)

    MBAA 523 Set 1 Homework Answers (ERAU)

    MBAA 523 Set 1 Homework Answers (ERAU) 1. An airline is considering the purchase of an Airbus A-320neo which offers improved fuel efficiency over the previous generation of narrow-body aircraft. The finance department estimates the aircraft will...

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  • MBAA 523 Set 2 Homework Answers (ERAU)

    MBAA 523 Set 2 Homework Answers (ERAU)

    MBAA 523 Set 2 Homework Answers (ERAU) The popular and financial press regularly report on economic events, but the description is usually quite different from the theoretical model provided in a microeconomics textbook.  This problem set provides...

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