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Suppose the hotel in the lecture example raised its price from $30 to $30.50. With the new price, the hotel expects 96 guests to arrive 5% of the time, 97 guests 10% of the time, 98 guests 20% of the time, 99 guests 30% of the time, 100 guests 25% of the time and 101 guests 10% of the time. The variable costs per occupied room and overbooking costs are the same as in the lecture.
in akron ohio the movie market is monopolistically competitive. the demand function for daily attendance and the
choose and research a specific business that is publicly traded where there has been a pattern of change in a
What are the individual's budget constraints in periods 1 and 2 and the new lifetime budget constraint and solve for the optimal consumption in both periods.
branding iron products a specialty steel fabricator, operates a plant in the town of west star, texas. the town has grown rapidly because of recent discoveries of oil and gas in the area. many of the new residents have expressed concern at the amo..
A lawyer who drives a beat-up car and wears frumpy dresses may have a hard time getting customers. Potential clients may conclude from his appearance that he is poor, and if he is poor, he probably is not very good.
You are a newspaper publisher. You are in the middle of a one-year rental contract for your factory that requires you to pay $500,000 per month, and you have contractual labor obligations of $1 million per month that you can't get out of.
Suppose the number of employed people in an economy is 121,166,640. The unemployment rate in this economy is 10.4 percent, or .104, and the labor force participation rate is 72.5 percent, or .725.
You are given the following two IS curves that show how real GDP (Yt) in the current time period t depends on the current interest rate and interest rates in previous periods, where rt is the interst rte in time period t. Furthermore each time per..
Select a product you have purchased in the past month from a clothing or shoe store. Explain how each of the four factors contributed to the elasticity of the good.
A machine is purchased for $150,000. Revenue for the first year was $50,000. Over the total estimated life of 8 years, what must the annual revenue for years 2 through 8 equal to recover the investment, if costs are constant at $42,000 and a ret..
In an effort to reduce their total costs, many companies are now replacing paychecks with payroll cards, which are stored-value cards onto which the companies can download employees' wages and salaries electronically.
Assume you are an aid to a government official planning on some recently proposed excise tax on welfare of her constituents.
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