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Q1. How an airline executive might use tourism economics relating to passengers load factors, ticket prices discounts, frequent flyers programs, joint fares, flight frequencies
Q2. Explain how to find a MRS for three goods. please see this question Consider the Cobb-Douglas utility function U = U(X,Y,Z) for the case of three goods X,Y and Z defined by U = (X,Y,Z)=(X^1/3).(Y^1/3).(Z^1/3)
What are the marginal utilities and marginal rates of substitution for this utility function?
If the interest rate rises from 10 to 12%, compute what will happen to his consumption levels in period 1 and 2.
Describe the demand and marginal revenue curves faced by a firm in a purely competitive market. Are they different from those faced by a firm in oligopolistic competition? If so Why?
Is it possible that both goods are normal? That both are inferior? That good 1 is normal? That good 1 is inferior? That one of these goods is inferior and the other normal?
If you turn this measure of cost around, illustrate what is the prospect cost of cheese in liters of milk per gram of cheese.
what will happen to the value of the dollar? Use the demand-supply model of the dollar to explain. sales of luxury cars will decrease.
Find the cost functions for the following firms: A firm with production function f(x1,x2) = min{ 2xl,3x2} A firm with production function f(xl,x2) = 2x1 +3x2 A firm with production function f(x1,x2) = In
they each printed the other's currency, with the intention of dropping large quantities by airplane. explain why might this have been an effective weapon.
A second firm is considering entering this market. What variety should it offer. What prices will the firms charge.
Illustrate what makes measuring economies of localization or economies of urbanization difficult.
Draw the indifference curves that represent the following individual's preferences for peanut butter and jelly. Indicate the direction in which the individuals' utility is rising.
Discuss industry concentration, demand and market conditions and the pricing behavior of Kodak in the 1990's. Do you think the industry environment is significantly different today.
rom the Blades' Use of Long-Term Financing case study, formulate an overall corporate financial strategy to support the long-term financing of Blades, Inc.
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