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Question 1:
Define the concepts price elasticity of demand, income elasticity of demand and cross elasticity of demand and explain how these concepts can be useful to the manager of a travel agent.
Question 2:
Using relevant examples to illustrate your arguments, analyze the different economic impacts of tourism and discuss the different ways in which government can maximize the economic benefits from the industry.
Question 3:
Using relevant examples to illustrate your arguments, analyze the different factors likely to influence the demand for tourism products.
Question 4:
Outline the short run and long run equilibrium of a monopoly market using examples from the tourism and/or hospitality sector to illustrate your arguments.
Identify path of growth and development to economic maturity.
Draw a Production Possibilities Frontier with consumer goods on the vertical axis and capital goods on the horizontal axis. Show how the PPF will shift if the production of capita
example of marginal opportunity cost
What is the marginal opportunity producing the first unit of paper? The marginal opportunity cost of producing the forth unit of paper?
Q. What do you meant by Real GDP? Real GDP:Value of total gross domestic product (which is, all the services and goods produced for money in the economy) adjusted for effects o
price quantity 10 60 20 70 30 90 40 110 50 130 derived a supply function for the relation between price and quantity
Find the market-clearing price and quantity of burritos.
"price makers" never want to produce in the inelastic part of their demand curve why
A potential investment project has the following stream of annual social (benefits minus costs), where you may assume the project starts with the capital payment of $12,000 on Day
Topic: Please choose a case study in water related area and analyse it from at least two angles (or more) by examining the technical side as well as the economical, social and poli
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