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Assignment 1 1) Sydney shelter Bridge 5:30am-6:30am (2.5-3)/3=-16.67% (2232-2208)/2208=1.09% E=/=0.06 inflexible 6:30am-9:30am (4-3)/3=33.33% (21115-21415)/21415=-1.40% E=/=0.05 dead 4:00pm-7:00pm (4-3)/3=33.33% (16204-16664)/16664=-2.76% E=/=0.10 inelastic 7:00pm-8:00pm (2.5-3)/3=-16.67% (3363-3895)/3895=-5.96 E=/=0.34 inelastic Sydney apply Tunnel 5:30am-6:30am (2.5-3)/3=-16.67% (2539-2103)/2103=20.73% E=/=1.03 elastic 6:30am-9:30am (4-3)/3=33.33% (10123-10161)/10161=-0.37% E=/=0.01 inelastic 4:00pm-7:00pm (4-3)/3=33.33% (8104-8192)/8192=-1.07% E=/=0.04 inelastic 7:00pm-8:00pm (2.5-3)/3=-16.67% (1781-1782)/1782=-0.056% E=/=0 perfectly inelastic When the goods meet completely a negligible portion of the bud fail the income hindrance allow for be insignifi screwt and demand inelastic. The more inevitable a good is, the lower the elasticity as heap will attempt to buy it no matter the impairment. deal must(prenominal) go to work and go home in these time.

2) Sydney harbour Tunnel from 5:30am-6:30am had the biggest effect on avocation volumes. Because the price elasticity of demand is elastic, the total revenue of NSW government act from this time and route is increased. 3) No, its not consistent with the law of demand. The 2008 fiscal crisis affected macroeconomic. It made the business of companies reduce. plenty do not need to work overtime. T hey can go home forrad 7:00pm. So the traf! fic volumes between 7:00pm-8:00pm is reduced. The monetary crisis has also led to reduction of number of car drivers. quite a little can not afford the cost of petrol. More the great(p) unwashed choose to take train instead of effort cars. We can see the total traffic volumes in 2009(65761) is less(prenominal) than before(66420). notwithstanding the percentage change in traffic volumes on Sydney Harbour Bridge between 4:00pm-7:00pm(-2.67%) is less than...If you ask to get a full essay, order it on our website: OrderCustomPaper.com

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