THE CASE STUDY

Set up by the Irish Government in 1959 to promote Shannon International Airport in the post-jet era, Shannon Development is today, Ireland's only dedicated regional development company. The Company's dynamic brief is to generate industry, tourism and rural development in the wider Shannon area, known as the Shannon Region. This covers an area accounting for approximately 10% of the land mass of Ireland and 10% of its population, and includes counties Clare, Limerick, North Tipperary, South Offaly and North Kerry in the West and South West of Ireland. Today the Shannon Region is driven predominantly by the Services sector and has strong manufacturing and construction sectors For the past fifty years Shannon Development has worked, singularly and with many different 'partners' from the statutory, community and private sectors, to develop the region to its full potential. Its many varied responsibilities include: Developing and strengthening the indigenous industry sector in the Shannon Region, which includes building up a venture capital culture and creating awareness of the benefits accruing from the Information Society. Developing the Shannon Free Zone as a location for international investment in manufacturing and international traded services. Managing and developing the Knowledge Network, a series of modern business parks linked to third level institutes and incorporating incubation, indigenous enterprise and FDI. Tourism development in the Shannon Region. Delivering EU funding (European Regional Development Fund) to support new tourism product development. Managing commercial tourism businesses, e.g. castle banquets and day-visitor attractions, through a subsidiary company - Shannon Castle Banquets & Heritage. Promoting the deep water advantages of the Shannon Estuary as an international location for maritime industry. Stimulating development at rural and local levels. With a keen eye to the future, Shannon Development works with the Government, the people of the Region, and the private sector in delivering new projects and initiatives that will address the economic development needs of all parts of the Region and create demand for the Shannon Airport Gateway. We believe our work will help build a viable counterpole in the broader ASet up by the Irish Government in 1959 to promote Shannon International Airport in the post-jet era, Shannon Development is today, Ireland's only dedicated regional development company. The Company's dynamic brief is to generate industry, tourism and rural development in the wider Shannon area, known as the Shannon Region. This covers an area accounting for approximately 10% of the land mass of Ireland and 10% of its population, and includes counties Clare, Limerick, North Tipperary, South Offaly and North Kerry in the West and South West of Ireland. Today the Shannon Region is driven predominantly by the Services sector and has strong manufacturing and construction sectors For the past fifty years Shannon Development has worked, singularly and with many different 'partners' from the statutory, community and private sectors, to develop the region to its full potential. Its many varied responsibilities include: Developing and strengthening the indigenous industry sector in the Shannon Region, which includes building up a venture capital culture and creating awareness of the benefits accruing from the Information Society. Developing the Shannon Free Zone as a location for international investment in manufacturing and international traded services. Managing and developing the Knowledge Network, a series of modern business parks linked to third level institutes and incorporating incubation, indigenous enterprise and FDI. Tourism development in the Shannon Region. Delivering EU funding (European Regional Development Fund) to support new tourism product development. Managing commercial tourism businesses, e.g. castle banquets and day-visitor attractions, through a subsidiary company - Shannon Castle Banquets & Heritage. Promoting the deep water advantages of the Shannon Estuary as an international location for maritime industry. Stimulating development at rural and local levels. With a keen eye to the future, Shannon Development works with the Government, the people of the Region, and the private sector in delivering new projects and initiatives that will address the economic development needs of all parts of the Region and create demand for the Shannon Airport Gateway. We believe our work will help build a viable counterpole in the broader

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Question 1

1.Suppose the supply for product A is perfectly elastic. If the demand for this product intensification will be__________

2.If the coefficient of revenue elasticity of demand is sophisticated than 1 and the revenue upsurges, the share of expenditures for commodity X in entire expenditure will be determined by______________

3.When the demand for agricultural foodstuffs is unbendable______________

4.For a rational consumer who has to indicate between two goods in the background of budget restraints, the price change of one of the goods, caeteris paribus, will determine____________

5.The price of the product A was reduced from 100 to 90 lei and, as a result, the quantity demanded has increased from 70 to 75 units. The demand is:

6.Is it true or false that for a company whose production process involves making two goods, one main and the other secondary, if the price of the main good increases, - caeteris paribus - the supply on the secondary good`s market will increase (and vice versa). Explain your answer

7.If the petition curve for product A moves to the right, and the worth of product B diminutions, it can be concluded that:

8.Suppose the price of a good decreases by 10% and the quantity demanded for a certain period of time increases by 15%. In these conditions:

9.If a price increase of 50% results in an increase in the quantity supplyed of an economic good from 10 to 20 pieces, calculate the coefficient of price elasticity of supply

10.The total utility coincides with the marginal utility: