Richardson Travel offers helicopter service from suburban towns to John F. Kennedy International Airport in New York City. Each of its 15 helicopters makes between 1,000 and 2,000 round-trips per year. The records indicate that a helicopter that has made 1,000 round-trips in the year incurs an average operating cost of $350 per round-trip, and one that has made 2,000 round-trips in the year incurs an average operating cost of $300 per round-trip.

Using the high-low method, estimate the linear relationship y equals a plus bX, where y is the total annual operating cost of a helicopter and X is the number of round-trips it makes to JFK airport during the year.

Ajustification for job training programs is that they improve worker productivity. suppose that you are asked to evaluate whether more job training makes workers more productive. however, rather than having data on individual workers, you have access to data on manufacturing firms in ohio. in particu- lar, for each firm, you have information on hours of job training per worker (training) and number of nondefective items produced per worker hour (output). (i) carefully state the ceteris paribus thought experiment underlying this policy question. (ii) does it seem likely that a firm’s decision to train its workers will be independent of worker characteristics? what are some of those measurable and unmeasurable worker characteristics? (iii) name a factor other than worker characteristics that can affect worker productivity. (iv) if you find a positive correlation between output and training, would you have convincingly established that job training makes workers more productive? explain.

Which type of market are you in if your company, along with three other companies, controls 95 percent of the total music industry?

How will firms solve the problem of an economic surplus a. decrease prices to the market equilibrium price b. decrease prices so they are below the market equilibrium price c.increase prices