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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.
Suppose the entire civilian labor force is 20,000 people and the number of unemployed is 2,000 people.
Currently a monopolist's MR = $5 and its MC = $10 and it services 10 consumers. An 11th consumer walks in. Should the company service her?
Discuss - Deficit spending paves the road to ruin. Explain how much of the national debt is held by foreigners.
Suppose that Poland had exports of $100 billion in 2014 and imports of $150 billion. What was its net capital flows in that year? Give two examples of transactions that are part of the net capital flows of Poland, and indicate whether they enter the ..
Please select a brand and describe the marketing channel the brand will pass through on the way to the end user. How does this add value and costs?
gdp per capita ppp current international for sub-saharan africa and uganda between the years 1980 and 2010.1. for
What nominal rate per month is equivalent to an effective rate of 3.8% per quarter, compounded continously?
Define ex,I and ey,I to be income elasticities for goods x and y. Define sx and sy to be income shares for x and y.
Describe in 100 words or less the condition of “full employment” and explain why, even under the conditions of full employment, there is still a percentage of the labor force who are not working.
Illustrate what greens fee should the operator set on weekday also Elucidate how many rounds will be played n the weekends.
Antitrust legislation is an attempt by government to make competition
The airline is considering building a new training center on this land.
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