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Grand Paradise resort and casino in Las Vegas has 2500 rooms. The hotel man- agement knows from past experience that a room rate of $100 a night results in full occupancy. It is also known that a 10 % increase in rate leads to a 1 % decline in the occupancy rate. If demand is linear, what rate should the hotel charge to maximize revenue? What would the occupancy rate be?
In early 2008, you purchased and remodelled a 120-room hotel to handle the increased number of conventions coming to town. By mid-2008, it became apparent that the recession would kill the demand for conventions.
Genentech owns a patent on tissue plasminogen activator (TPA), which is an enzyme that helps the body break down blood clots. TPA is particularly valuable to cardiac patients, since it often allows heart problems to be treated with medication rather ..
The consumption of alcohol is often cited as an example of a negative externality. Explain a situation in which alcohol would be considered a negative externality. 3. Describe the purpose of antitrust laws. What do they accomplish.
What are the advantages and disadvantages of a balanced federal budget? Should we pass a constitutional amendment to do so? Why or why not?
why would china want its own currency to be undervalued relative to the us dollar? how can china maintain an
Using supply and demand diagrams, show how each of the two developments can explain the increase in the compensating wage differential. Can information on the number of workers in the risky occupation help determine which explanation is more plaus..
Please explain the difference between Microeconomics and Macroeconomics in at least 300 words.
general electric which produces light bulbs, jet engines, washing machines, and so on, kinko's which has a photocopy store near many colleges and univesities, usx corporation which owns ore and coal mines, coke ovens, blast furnaces, mills, and foun..
What is the most important factor leading to rising health care costs in the United States since 1980? a)The increased use of expensive medical technology b)Teh aging U.S. Population
Demonstrate that under this analysis commodity movement and factor movement are substitutes for each other.
characterize the long run equilibrium of a perfectly competitive industry in which average costs are U-shaped as output increases, under both restricted and free entry.
Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope. These are called externalities. As a policy maker concerned with correcting the effects of gases and particulate..
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