Examlex
Residents in the city of Econoville enjoy only two types of recreational activities. The activities are biking and attending concerts. The supply of concert tickets is:
= 60,000. The demand for concert tickets is:
= 90,000 - 1,000 PC + PB. The supply of biking trail permits is set at:
= 150,000. The demand for biking trail permits is
= 250,000 - 1,000 PB + 20 PC. Determine the general equilibrium prices and quantities for the two recreational activities.
Slender Profile
A description typically used to denote something or someone that is gracefully thin or narrow in shape or design.
Homeostasis
The ability of an organism or environment to maintain stability and equilibrium by regulating internal conditions.
Achievement Motivation
The drive to pursue and attain goals, often pushing individuals to succeed in education, work, and other areas of life.
McClelland
David McClelland, a psychologist known for his work on motivation, including the theory of Needs which focuses on the importance of achievement, power, and affiliation in driving human behavior.
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