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Hello I Lokkibg for this 2 problem, thank you soo much Problem 2: On December 18, 2019, the price of Hulu's premium service, jumped up

Hello I Lokkibg for this 2 problem, thank you soo much

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Problem 2: On December 18, 2019, the price of Hulu's premium service, jumped up $10 to $54.99. At the beginning of the third quarter of that year, Hulu had approximately 28 million subscribers in the U.S. At the beginning of the second quarter of the next year (2020), the number of subscribers dropped to 27.7 million. What was the service's average arc elasticity of demand over this period? Should Hulu raise the price for this service even more? Why or why not? Problem 3: Action Haulers and Fast Freight are two competing firms in the large regional market for overland f trucking services. For the past year, the two firms have charged $120 per ton, and each has been hauling about 2,000 tons per week. Last month, Action reduced its price by 10% to $108 per ton and its volume increased to 2,200 tons per week. During that month, Fast Freight maintained its price at $120 but saw its volume decline to 1,900 tons per week. a. What is the price elasticity of demand facing Action? b. What is Fast Freight's cross-price elasticity of demand for Action price changes? c. If the own-price elasticity of demand for Fast Freight is the same as that for Action, what price reduction for Fast Freight would be required to increase its monthly volume back to 2,000 tons per month

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