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A hotel in a major metropolitan area has 1500 rooms. The hotel management knows from the past experience that a room rate of $120 a night results in 92 % occupancy. It is also known that a 5 % increase in rate leads to a 3 % decline in the occupancy rate. If demand is linear, what rate should the hotel charge to maximize revenue? What would be the occupancy rate?
1. The following table presents data for wages in the market for Internet security professionals. (Hint: In the labor market, the roles are reversed. Those who want to hire labor are the demanders. The workers enter the workforce providing labor to..
You want to start a company, and are trying to decide between two different industries. You are doing your final research before you write your business plan. Industry A has 20 firms and a Concentration Ratio (CR) of 30% What is the name for this ..
What is residential segregation Give a historical perspective and recent trends as to how and why it is changing. What are some of the negative effects of residential segregation
Suppose you own a franchise of rental car bureaues in Florida. You recently get a report indicating that about 80% of all tourists visit Florida during winter months in any given year,
choose one of the following and determine whether there is correct usage of the terms demand quantity demanded supply
can someone please help me do a ppf graph as well how to get the following calculationscorn
Does advertising improve the economic efficiency of markets from an economist's perspective and explain and support your discussion with a diagrammatic model and include any assumptions regarding elasticity in your explanation.
suppose that in the clothing market production costs have fallen but the equilibrium price and quantity purchased have
In 1989 the Detroit Free Press and Detroit Daily News the only daily newspapers in the city obtained permission to merge under a special exemption from the antitrust laws.
In answering questions 1-10, use the following information about the economy of Margaritaville. Margaritaville's production function per effective worker is given by the following expression y = k0.5, where y = Y/(E×L) and k = K/(E×L). Y is real outp..
Draw the cheese market for the United States
a the above figure shows four different markets with changes in either the supply curve or the demand curve. which
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