Practice_Midterm_3

D

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Unformatted text preview: 
where
P
is
price
per
voyage
 (inflation
adjusted),
and
Q
is
the
number
of
voyages.

The
study
found
that
while
 the
estimate
of
b
was
virtually
the
same
in
both
years,
the
estimate
of
a
in
1993
 was
smaller
than
the
estimate
of
a
in
1999.
 9. In
late
1994,
a
new
deepwater
port
was
opened
in
New
Orleans.

One
article
on
 this
was
titled
“Customers
Prayers
are
Finally
Answered,”
alluding
to
the
significant
 reduction
in
unloading
and
handling
costs
(usually
born
by
the
customer
whose
 freight
is
being
unloaded)
that
was
expected
to
come
because
of
the
new
port
 facilities.

 10. When
you
asked
a
senior
manager
of
a
cargo
shipping
company
what
discount
rate
 firms
use
to
evaluate
new
inv...
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