Illustrate what is the total consumer surplus per night

Assignment Help Business Economics
Reference no: EM1363467

Suppose the price of a hotel room in San Diego averages $200 per night. At that price suppose 30,000 people stay in hotel rooms on an average night in San Diego. If the average level of consumer surplus for each hotel guest equals $24, what is the total consumer surplus per night?

Reference no: EM1363467

Questions Cloud

Relationship between integrity and repeat business : What do you feel is the correlation between repeat business and the image of integrity? How does this effect referrals for new sales?
Costs allocated to ending inventories : Determine the predetermined overhead rate. Compute the total cost of the two ending inventories. Compute cost of goods sold for the year (assume no beginning inventories and no underapplied or overapplied overhead).
Pros and cons of regional heath information organizations : Assess the pros and cons of Regional Heath Information Organizations (RHIOs) in achieving the goals of the National Health Information Network (NHIN).
Find the angular speed after the grindstone : find the angular speed after the grindstone. what must be its minimum mass so that material on its surface remains in place during the rapid rotation.
Illustrate what is the total consumer surplus per night : If the average level of consumer surplus for each hotel guest equals $24, illustrate what is the total consumer surplus per night.
Caring patients in a cost effective and efficient way : Health care continues to create new services to provide care to patients that are cost effective and efficient. With the aging population, more emphasis is being place on skilled nursing facilities (nursing homes), assisted living facilities (ALFs..
Find the angle the string makes with the vertical : Find out the angle the string makes with the vertical.what is the maximum voltage that can be applied across the whole network.
Create visual logic flow chart-calculate pay of employees : The user will then be able to continue calculating the pay for additional employees until the user decides to stop or until the maximum number of employees is reached. Create a Visual Logic Flow Chart.
Explain what would their total recruiting cost be : Explain what would their total recruiting cost be and Assume Digby spends the same amount extra above the $1,000 recruiting base as they did last year.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd