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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 springless(prenominal) 6:30am-9:30am (4-3)/3=33.33% (21115-21415)/21415=-1.40% E=/=0.05 springless 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 defy 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 lonesome(prenominal) a negligible portion of the bud fail the income lode ordain 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 charge. 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 natural action from this time and route is increased. 3) No, its not consistent with the law of demand. The 2008 monetary crisis affected macroeconomic. It made the business of companies reduce. p lenty do not need to work overtime. They can! go home fore 7:00pm. So the traffic volumes between 7:00pm-8:00pm is reduced. The fiscal crisis has also led to reduction of number of car drivers. hatful can not afford the cost of petrol. More the bully unwashed choose to take train instead of private road cars. We can see the total traffic volumes in 2009(65761) is less 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 neediness to get a full essay, order it on our website: BestEssayCheap.com

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