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Question 1:
Using relevant examples to illustrate your arguments analyze the different economic impacts of tourism and discuss the different ways in which government can maximize the economic benefits from the industry.
Question 2:
Define the concept of tourism demand and analyze the different economic factors likely to influence the demand for tourism products.
Question 3:
"The economic benefits many African countries derive from international wildlife tourism are very few, especially when viewed from existing potentials in terms of resources and uniqueness. African wildlife tourism has natural barriers to entry and thus is basically a monopolistic market"
Outline the characteristics of a monopoly market and distinguish between its short run and long run equilibrium. Use relevant examples from the tourism and/or hospitality industry to support your arguments.
What is International Trade Economics, Explain study area of international trade economics.
Supply and demand for a given type of MP3 player are given by the following equations: P=980-1.5Qd P=20+0.9Qs
How elasticity is always referred to as a positive value even though it can be negative? In economics, elasticity is measures of the incremental percentage change in single va
an emission fee levied against polluting firms will tend to shift the supply/demand curve of the firm/product to the left/right?
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do you think that dimnishing returns to a factor are consistent with increasing returns to scale? explain with suitable diagram and reasoning.
Input Substitution When the Input Price Change Isoquants and Isocosts and Production Function The minimum cost combination can be written as: - Minimum cost
What is the difference between change in quantity demanded and change in demand
Mamun has a weakly income of 600 dollars. Price of chocolate is 5 dollar and price of potato is taka 10. Both are normal goods. Show the income and substitution effect for each of
Explain about the optimal consumption rule. The optimal consumption rule: While a consumer maximizes utility, the marginal utility per dollar spent should be similar for all
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