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Suppose the hotel in the lecture example raised its price from $30 to $30.50. With the new price, the hotel expects 96 guests to arrive 5% of the time, 97 guests 10% of the time, 98 guests 20% of the time, 99 guests 30% of the time, 100 guests 25% of the time and 101 guests 10% of the time. The variable costs per occupied room and overbooking costs are the same as in the lecture.
Calculate the expected revenue, expected variable costs and expected costs from overbooking.
Using marginal analysis, should the hotel raise its price? Explain your answer.
How much Medicare Tax did she pay? What is her marginal tax rateon her federal personal income tax? Details are related to the U.S.
Illustrate what is the marginal income product of hiring one low-skilled worker to clear woodland for one month.
Draw a graph with arcade games on the horizontal axis also newspapers on the vertical axis. Joe has $10 every week to allocate between these commodities.
A monopoly has the market demand Q = 1000-1000P, with a marginal cost, MC = 0.28. What is the optimal price and quantity for perfect competition? What is the optimal price and quantity for monopoly?
If $80 is charged for a design fee, and the monthly studio rent is 1,600; write an equation for the profit, P, in terms of x. Then how much is the profit when 50 award designs are sold in a month? How many award designs must be sold in order to maxim..
Illustrate at what price can the firm sell the level of output found in the previous question.
Are any of the types of things that couples hide statistically independent of the gender of the respondent? Explain?
two accompanying show supply an demand curves for two substitute commodities: regular cell phone and smartphones. A. Show what happens when rising raw material prices make it costlier to produce regular cell phones
Tobies operate a small deli downtown. The deli business is monopolistically competitive.
When working with tribal people, keep in mind that:
Calculate the prot-maximizing monopoly price and quantity. Calculate the price and quantity that arise under perfect competition with a market supply curve P = Q=2.
as you have worked as a real estate agent for 10 years as well as are earning about 100000 every year with your current
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