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What is yield management? Why does yield management often result in ticket price increases as one gets closer to the flight date even though the airline runs the risk of some seats going empty?
How do the following events influence GDP? Each of five mothers living in a neighborhood takes care of her pre-school child in her own home. The mothers share the childcare wo
The production engineers at Impact Industries have derived the optimal combinations of labor and capital. These are the only two inputs used by Impact. The following chart sho
Starting at the demand price $3.00 the demand quantities are 60,70,80,90,100. At what price is the euilibrium price? At what price does suplus occur? at how many large?
It is generally accepted among economists that minimum wage warps the equilibrium point between the supply and demand of labor by instituting price floor and increases unemplo
If the price of labor is constant and a firm experiences diminishing marginal product, then its. When a bank or Bank like institution borrows from individuals or firms with ex
Chris is renting a house, and it does not have a refrigerator. A refrigerator is worth $3 every day because Chris will eat out less. Chris has a discount rate of 18%. Refriger
Dave and Christy both follow the life-cycle hypothesis: they smooth consumption as much as possible. They each live for five periods, the last two of which are retirement. Her
The global propylene industry is perfectly competitive and each producer has the marginal cost function MC=40-12q+q2. The corresponding average cost function is AC=40-6q+ 1/3q
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