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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.
Calculate the expected revenue, expected variable costs and expected costs from overbooking.
Using marginal analysis, should the hotel raise its price? Explain your answer.
Illustrate what occurred to employment during the rest of 2008. Illustrate what are some of the alternatives to a tax cut that might have been utilized.
What are the economic arguments in favor of such licensing and regulation? What are the arguments against? If such licensing does occur, what is likely to happen to the number of estheticians that practice, the prices they charge and their average in..
The Solow model shows that the saving rate does not affect the growth rate in the long run, so we should stop worrying about the low U.S. saving rate. Increasing the saving rate wouldn't have any important effects on the economy. Agree or disagree
Suppose a furniture manufacturer is producing in the short run (with its existing plant and equipment). The manufacturer has observed the following levels of production corresponding to different numbers of workers
Explain the effect of a discretionary cut in taxes of $40 billion on the economy when the economy’s marginal propensity to consume is .75. How does this discretionary fiscal policy differ from a discretionary increase in government spending of $40 bi..
How would you explain to either the president or the CEO that he or she is wrong?
Explain how will this trade affect incomes of capital owners and workers in wool industry in Australia. Apply your knowledge of an appropriate framework to illustrate this.
Compute by how much monetary policymakers must change the nominal money supply for the expectations of firms and workers to be realized.
During the working life, how do you graph that without knowing more information.
What is dual cut off method of the multidimensional poverty index? based on the three case studies of ' portfolio of the poor' (2009) did you find any poor of Bangladesh, india and south Afirca who suffer from any dimension of poverty? if yes, explai..
Find the value of X such that the loan is fully repaid with the last payment. b) What is the dollar amount of each of the five payments ? c) Find the value of all the intrest paid to ken ?
Illustrate what is the macroeconomic relationship with the article, "Squaring the Economic Circle" by Art Buchwald.
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