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A hotel in a major metropolitan area has 1500 rooms. The hotel management knows from the past experience that a room rate of $120 a night results in 92 % occupancy. It is also known that a 5 % increase in rate leads to a 3 % decline in the occupancy rate. If demand is linear, what rate should the hotel charge to maximize revenue? What would be the occupancy rate?
mrs. smith operates a business in a competitive market. the current market price is 7.50. at her profit-maximizing
Describe a time in your life when you conformed to, or obeyed, a larger group. In the speaker notes, detail how would you react in that situation today, and what approaches you can take to avoid these behaviors in the future.
What is quantitative easing. Hasn't the Fed already tried quantitative easing. When. What were the results. Discuss the method of quantitative easing used by the Federal Reserve during the most recent U.S. recession, including any criticisms of th..
Suppose that you are the general manager at a plant that will be closing in one year. It is a small plant, and so is not subject to the Worker Adjustment and Retraining Notification Act (WARN). Must you give your employees advance notice of the closi..
a monopoly faces demand given by q 200 - p. the marginal cost mc 10 is constant. the marginal revenue mr 200 - 2q.a.
Consumers can make costly mistakes when not enough information is available. Which of the following represents a market solution to obtaining costly information?
A production lot of 25 units required 103.6 hours of effort. Accounting records show that first unit took seven hours. What was the learning rate?
1. what is the steady state level of capital per effective worker?2. if A grows at rate Ga, and N grows at rate Gn, what is the steady state level of capital per effective worker?3. what are the steady-state growth rates in terms of (Ga + Gn) of: cap..
All Giffen goods are:
assume that the government imposed a price ceiling on gasoline in order to prevent prices from getting too high. what
Discuss the current monopoly to provide a brief overview of the company. How did the monopoly arise? Did the monopoly increase barriers to entry? Does the company behave like a monopoly or more like a competitive firm?
Continue to assume that your firm will survive for only one production period.
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