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Advanced Technology:
R = 3,270.3Q - (Q^2/10.1)
MR = 3,270.3 - (Q/5.05)
Below $1,635 demand becomes inelastic
EY = 3.85
Autos/Oil (partial answers appear in the original document):
Ep = -9.1%
Cross elasticity Libya to Nigeria using point elasticity is 11.45
Cross elasticity Libya to Nigeria using arc elasticity is 6.5
BART:
Ep = -0.286
R = $24 million
To calculate revenue, I used the caluculkus approach the professor used on
the cable car fares problem:
dR/R = %dP + %dQ, I'm just not sure about the signs. I used %dP as -21% and
%dQ as 6%, but then we supposedly get a negative number for R, so I'm really
not sure here.
Bus Transportation:
Ep = -0.4
I will post more when I have them. I'm out of town most of the weekend so
probably won't do much more.
Adi.
Christy