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The hospitality industry on the Las Vegas Strip has undergone systematic consolidation. In 2005, MGM Mirage acquired the Mandalay Resort Group. The enlarged MGM Mirage then had 37,180 of the 58,874 large hotel rooms on the Strip, half of the top Strip properties, 44% of the game tables, and 40% of the slot machines.
a. Suppose that the enlarged MGM Mirage would reduce fixed costs. Using the Cournot model, how should other hotels adjust their capacity?
b. Suppose that the enlarged MGM Mirage would reduce the marginal cost of service. Using the Cournot model, how should other hotels adjust their capacity?
c. If the enlarged MGM Mirage exercises capacity leadership, how should other hotels adjust their capacity?
Assume the Following IS-LM Model E Expenditure sector Sp = C + I + G + NX C = 110 + (2/3)YD Calculate the equilibrium values of private domestic investment (I), tax revenues (TA), and real money demand (md). How much of private domestic investment (I..
As the exclusive carrier on a local air route, a regional airline must determine the number of flights it will provide per week and the fare it will charge. The estimated cost per flight is $2,000. It expects to fly full flights (100 passengers)
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What is the elasticity of supply for corn?
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Potatoes cost Janice $1.10 per pound, and she has $6.00 that she could possibly spend on potatoes or other items. If she feels that the first pound of potatoes is worth $1.50, the second pound is worth $1.14 the third pound is worth $1.05, and all ..
Predict gross benefits if admission is set at $1.00 and Dryville has marginal excess tax burden of 0.25. In answering this question, assume that the fees are used to reduce taxes that would otherwise have to be collected from the citizens of Dryvi..
solve the following linear programming model graphically. in addition write the problem in standard form and do a
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