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ECON 2030 Chapter : Econ 2030

United States

Economic Principles

Economics

Louisiana State University

Intro to Psychology

Introduction to Psychology

U.S. History since 1876

Principles of Economics: Macroeconomics

Beginning Italian I

Development of Contemporary Fashion

Earth Science

Intro Philosophy Ethics

Introduction to Microeconomics

Survey of Ancient through Medieval Art

Applications of Environmental and Organismal Biology

Introduction to Macroeconomics

Global Diversity and Interdependence (I)

Managerial Marketing

Introduction to Supply Chain Management

Asian Mythology

General Chemistry I

Media, Money and Power

Calculus I

Intro Differential Equations

Intro Experimental Psych

RST in Modern Society

Principles of Macroeconomics

Introductory Biology I

Expository Writing

Introduction to Geology

Introduction to Criminal Justice

Introductory Psychology

Leadership and the Humanities

Leadership and the Social Sciences

The Process of Communication

Introduction to the Theatre

Spanish Communicative Grammar

People, Places, and Global Issues

Biological Principles I

Science and Technology in World History

Introduction to Hospitality Industry

Research Methods in Psychology

Biochemistry For The Biomedical Sciences

International Relations

Plane Analytic Geometry And Calculus I

Materials And Processes II

Elementary French

Introduction To Contemporary Mathematics

Introduction To Psychology

Global Poverty: Challenges and Hopes in the New Millennium

Introduction to Sociology

Principles of Microeconomics

The United States to 1865

Religion, Logic and the Media

Asian American Women

Introduction to Environmental Engineering Science

Fundamentals of Chemical and Biomolecular Engineering

Transport Phenomena I

Numerical and Mathematical Methods in Chemical and Biological Engineering

Biochemical Reaction Engineering

Biochemistry: Introduction to Structure, Enzymes, and Metabolism

Biochemistry: Biosynthetic and Energy Metabolism and Its Regulation

Engineering and Society

Advanced Engineering Electromagnetics I

Introduction to Anthropology

Basic Concepts in Biology

Introduction to Interpersonal Communication

Ecological Basis of Environmental Issues

Economics of Environmental Quality

Financial Management

Human Geography: People, Places, and Cultures

Elementary Italian

Introduction to Kinesiology

Legal and Regulatory Environment of Business

The Study of Language

Principles of Marketing

Statistical Analysis for Business I

Principles of Plant Biology

Plant Ecology

American Government

Accelerated Elementary Spanish

Intermediate Spanish II

General Psychology

General Biology I

General Biology II

Cell Biology

General Chemistry II

Developmental Psychology

Special Topics in African & African American Studies

Race Relations

Introduction to African & African American Studies

Contemporary Africa

Elementary Swahili Language and Culture II

Intermediate AccountingñPart I

Survey of Accounting

Introductory Financial Accounting

Accounting Information Systems

Internal Auditing I

Advanced Accounting

Auditing

Advanced Theory of Accounts

Internal Auditing II

Income Tax Accounting II

<table style="width: 100%;">
<tbody>
<tr>
<td>Disney World charges $140 for one round of golf from morning until 2:00 PM and $60 for one round of golf from 2:00 PM until closing. Suppose the marginal cost of one round is $20.
<table style="width: 624px;" border="0" cellspacing="0" cellpadding="2">
<tbody>
<tr>
<td>
a.
</td>
<td>
What does this price differential suggest about the price sensitivities of people who play golf early in the day compared to those who play in the late afternoon?
</td>
</tr>
<tr>
<td>
b.
</td>
<td>
Calculate the price elasticity of demand for the early-morning golfers and the late-afternoon golfers.
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>

Calculate Inflation for 2012 taking CPI as 100 for the base year 2010.&nbsp; The market bundle is 5 Oranges, 5 portions of bacon and 7 Drinks. Prices ($) are as follows
<table border="1" cellspacing="0" cellpadding="0">
<tbody>
<tr>
<td valign="top" width="150">
&nbsp;
</td>
<td valign="top" width="150">
2010
</td>
<td valign="top" width="150">
2011
</td>
<td valign="top" width="150">
2012
</td>
</tr>
<tr>
<td valign="top" width="150">
Orange
</td>
<td valign="top" width="150">
2
</td>
<td valign="top" width="150">
4
</td>
<td valign="top" width="150">
5
</td>
</tr>
<tr>
<td valign="top" width="150">
Bacon
</td>
<td valign="top" width="150">
4
</td>
<td valign="top" width="150">
6
</td>
<td valign="top" width="150">
6
</td>
</tr>
<tr>
<td valign="top" width="150">
Drinks
</td>
<td valign="top" width="150">
1
</td>
<td valign="top" width="150">
1.5
</td>
<td valign="top" width="150">
1.9
</td>
</tr>
</tbody>
</table>

Calculate the CPI and inflation for 2012 using 2011 as the base year.&nbsp;
The market bundle is 5 Oranges, 5 portions of bacon and 7 Drinks. Prices ($) are as follows
<table border="1" cellspacing="0" cellpadding="0">
<tbody>
<tr>
<td valign="top" width="150">
&nbsp;
</td>
<td valign="top" width="150">
2010
</td>
<td valign="top" width="150">
2011
</td>
<td valign="top" width="150">
2012
</td>
</tr>
<tr>
<td valign="top" width="150">
Orange
</td>
<td valign="top" width="150">
2
</td>
<td valign="top" width="150">
4
</td>
<td valign="top" width="150">
5
</td>
</tr>
<tr>
<td valign="top" width="150">
Bacon
</td>
<td valign="top" width="150">
4
</td>
<td valign="top" width="150">
6
</td>
<td valign="top" width="150">
6
</td>
</tr>
<tr>
<td valign="top" width="150">
Drinks
</td>
<td valign="top" width="150">
1
</td>
<td valign="top" width="150">
1.5
</td>
<td valign="top" width="150">
1.9
</td>
</tr>
</tbody>
</table>
&nbsp;

ECON 2030 Chapter : Econ 2030

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