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1. Identify the peculiarities of tourism as a product compared with everyday goods and services which consumers may demand.
2. Why is prepurchase consumer decision making particularly important in travel and tourism demand.
Consider a Cournot duopoly with the inverse demand p = 130 - Q. Both firms have constant marginal and average cost MC = AC = 10. Find the Cournot-Nash equilibrium output and profit of each firm. Calculate the con-sumer surplus and DWL.
q. consider the following data on us gdp.year nominal gdp billions gdp deflator base year19962000 9873 1183 1999 9269
Elucidate the consumers opportunity set in a diagram. Explain how does this change alter the market rate of substitution between goods x and y.
Electric utility companies usually operate their most modern and efficient equipment continuously (i.e around the clock) and use their older and less efficient equipment only to meet periods of peak electricity demand. What does this imply for the sh..
Discuss the power of compound interest and why compounding makes it important for people to save and invest for retirement early in their working life rather than waiting until they are close to retirement.
q.1. lee has the utility function ux1 x2 x11x24 the price of x2 is 1. lee spends all his income to buy 6 units of x2
Suppose that inverse demand is given by D(Q) = 56 − 2Q, Q = q1 + q2 and the cost function is TC(qi ) = 20qi + f (a) Find the limit output for fixed costs ( f ) equal to 50, 32, 18, and 2. (b) What is the SPNE for the entry game with the following tim..
Suppose demand and supply are given by Qd = 50 - P and Qs = 1.0P - 10. Determine the quantity demanded, the quantity supplied, and the magnitude of the surplus if a price floor of $45 is imposed in this market Quantity demanded: Quantity supplied: Su..
q.due to rising food costs our vending contractor royalle vending will implement a slight price increase on all
Suppose a chemical factory discharges waste products into a river resulting in significant damages to a local fishery. The marginal damage and the marginal abatement cost (MAC) are given by: What level of emissions will occur if the chemical factory ..
Tthe price of elasticity of supply is of apartment is 0.50 use the demand and supply curve to show the initial equilibrium point a.
Consider an economy described by the production function: Y = F (K, L ) = K^(2/3)L^(1/3). Find the per worker production function. Find the steady-state capital stock per worker as a function of the savings, population growth, rate of technological c..
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