Reilly's Law/trade area capturing The city Riverside wants to know how many customers it has attracted in recent year. Riverside is especially interested in its auto dealers. They want to know if they lost or attracted more customers between 1987 and 1992. For 1987: Actual retail sales of merchandise: $3,301,000 Per capita expenditure for merchandise: $390.12 Country per capita income: $3,457 Province /state per capita income: $ 4,266 For 1992: Actual retail sales of merchandise: $9,341,000 Per capita expenditures for merchandise: $655.51 Country per capita income: $ 5,539 Province/ state per capita income: $ 6,864 A: Find the trade area- what do these numbers mean? B. Has trade area increased or decreased? Why do you think?

Reilly's Law/trade area capturing The city Riverside wants to know how many customers it has attracted in recent year. Riverside is especially interested in its auto dealers. They want to know if they lost or attracted more customers between 1987 and 1992. For 1987: Actual retail sales of merchandise: $3,301,000 Per capita expenditure for merchandise: $390.12 Country per capita income: $3,457 Province /state per capita income: $ 4,266 For 1992: Actual retail sales of merchandise: $9,341,000 Per capita expenditures for merchandise: $655.51 Country per capita income: $ 5,539 Province/ state per capita income: $ 6,864 A: Find the trade area- what do these numbers mean? B. Has trade area increased or decreased? Why do you think?

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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arrow_forward Question Asked Jun 26, 2020 1 views Suppose one thousand (1000) units of product Aare produced by XYZ limited and the quantity demade for the product is two thousand (2000)units .All other things remaining constant,$18 change in price of product A results in change quantity demaded and supplied of 6 and 9 respectively.XYZ limited has a work force of 500 people who Pay income tax of $200 each .Supposed the government introduce a subsidy of $10 on each unit of A produced. Calculate the new equilibrium price and quantity