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Donald owns several hotels in New York, Las Vegas, and other centers of tourist activity. Much of Donald's hotel revenue comes from European tourists. Suppose the U.S. dollar depreciates against the euro. Explain how this will affect Donald's hotel business.
Suppose that Demand is D = 10-2P, where P is price. (a) Evaluate the elasticity of demand at P = 2. (b) Evaluate the elasticity of Demand at P = 3. (c) Write the marginal revenue, evaluated at these two prices.
Suppose the demand for lychees is given by the following equation: Qd =4000–100P+500PM, where P is the price of lychees and PM is the price of mangoes. What happens to the demand for lychees when the price of mangoes goes up? Are lychees and mangoes ..
About 80% of the U.S. federal money that could have been spent on the project could alternatively have been used to improve the subway system. Is this fact relevant for estimating the net benefit of the project? If your answer is no, explain why the..
Because of economies of scale, it is sometime more cost effective for a firm to operate a large plant at less than maximum efficiency.
what amount of additional government spending (without changing taxes) would be needed to reach the desired increase of GDP? what change in total amount of direct taxes (without changing government spending) would be necessary to reach the same incre..
Suppose the Irish economy is at full employment. Suppose in a few months, the exchange rate of the Irish national currency, the punt, will decline, giving the Irish relatively less purchasing power in foreign markets. What will happen to the price le..
If the gini coefficient falls from .40 to .20
Momentum treatise to the current world population growth crisis.
Provide the college with a print management system for their student pay for print program. There will be an implementation of applications for the purpose of tracking and billing students and guest for printing services at the college.
Suppose that an economy is producing on its production possibilities curve but is not producing quantities of each good where the marginal benefit equals the marginal cost for each good.
Consider a country whose national income is $750 Million and whose population is 12.5 million. Assume in this country that the rich are 20% of the population and own 85% of the nation’s income. Can we conclude that the living standards have improved ..
In 2012, the box industry was perfectly competitive. The lowest point on the long-run average cost curve each of the identical box procedures was $4, and this minimum point occured at an output of 1,000 boxes per month. What was the equilibrium price..
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