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3) An article in Wall Street Journal reported that large hotel chains, such as Marriott, are tending to reduce the number of hotels that they franchise to outside owners and increase the chain owns and manages itself. Some chains are requiring private owners or franchisees to make upgrades their hotels, but they are having a difficult time enforcing the policy. Marriott says this upgrading is important because 'we've build our name on quality'.a. Explain the nature of the agency problem facing Marriott. b. Why would Marriott worry about the quality of the hotels it doesn't own but franchises? c. Why would a chain such as Marriott tend to own its hotels in resort areas, such as national parks, where there is little repeat business and franchise hotels in down-town areas, where there is a lot of repeat business? Thinks of the reputation effect and incentive of franchises to maintain quality.
in a hypothetical economyc 124 .75 disposible incomei 60 - 9 r g 156netxports 38-.05ythe government levies a 20
If the equilibrium real wage remains constant, what happens to the nominal wage when the actual inflation rate exceeds the expected inflation rate?"In the steady state, the government benefits from inflation."
"Oligopolies have a negative impact on income distribution." Do you agree or disagree? Provide justification for our response.
Explain what is different between firms in monopolistic competition and firms in oligopoly. What does this difference mean for prices and quantities and for economic profit?
Suppose instead that the price of DVDs is $20. Now what is the profit-maximizing quantity of DVDs that Bob should produce? What will his total profit be now? Will he produce or shut down in the short run? Will he stay in the industry or exit in the l..
question 1. libertyville has two optometrists dr. smith s and dr. jones s. each optometrist can choose to advertise his
Explain how the short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve, and the natural rate hypothesis are all related. How do active and passive views of these concepts d..
Derive the mathematical expressions and determine the level of output where the average cost function reaches a minimum (the firmís capacity).
Purpose of this course is to improve your economic decision making and increase your productivity as an employee or entrepreneur.
Describe each of the subsequent using supply and demand diagrams.
ace and baumont corporations make and sell electrical equipment. both have to decide whether or not to discount. the
Explain why Chrysler's decision might have been prompted by movements in its wage costs or capital costs, or both. Why would Chrysler have instituted this production change for its most popular
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