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Explain the events below using supply and demand.
At a restaurant that does not take reservations, people arriving at 7:30 normally have to wait for an hour, but some people arriving at that time give money to the hostess and are promptly seated. At another restaurant that takes reservations, there is a month wait for a Saturday night reservation, three weeks wait for a Friday night reservation, two weeks wait for a reservation Tuesday-Thursday nights, and virtually no wait for a Sunday or Monday night reservation.
Suppose that you own a golf course that is part of a Florida resort. You primarily serve two groups of people: local residents and tourists. Devise a price discrimination strategy that will increase your revenues compared to a single-pricing strategy..
Prepare a recommendation for each company. Should your recommendations be the same for both companies
Explain how does the market system efficiently perform the functions of communication, coordination and motivation in the distribution of resouces to comsumers.
disposable personal income decreases by $50 billion and trade deficit is reduced by $15 billion. By how much has national income (Y) change.
You have been asked to produce a forecast for your company's new product (bottled water). List and briefly describ four factors you would consider before giving the forecast.
The initial offering price was $34.40 per share, and the stock rose to $41 per share in the first few minutes of trading. Bostitch paid $905,000 in legal and other direct cost and $250,000 in indirect costs. What was the flotation cost as a perce..
Suppose the two doctors play a one-shot game-which is, they interact only once also never Once more.
Traffic at a certain intersection is 2000 cars per day. A consultant has told the city that traffic is expected to grow at a continuous rate of 4% per year. How much traffic will be expected at the end of 5 years? : P=2k, r=4% continuous comp, n=5, F..
Explain this statement: “Monopolists can set price and output since they are the only producer, but this does not necessarily guarantee they will make a profit.”
q. suppose people in our overlapping generations model have the opportunity either to hold at money with complete
q.consider a market with demand q 10 - p. currently there is an incumbent in the market with capacity k. there is a
1. economics is the study of the principles governing the allocation of scarce means among competing ends when the
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