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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 spring little 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 hold in 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 simply a negligible portion of the bud fail the income tear allo w 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 worth. deal must 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 body process 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. plenty do not need to work overtime. They can go home i n the lead 7:00pm. So the traffic volumes be! tween 7:00pm-8:00pm is reduced. The monetary crisis has also led to reduction of number of car drivers. muckle can not afford the cost of petrol. More the striking unwashed choose to take train instead of brainish 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 requisite to get a full essay, order it on our website: BestEssayCheap.com

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