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Question 1:
Define the concepts price elasticity of demand, income elasticity of demand and cross elasticity of demand and explain how these concepts can be useful to the manager of a travel agent.
Question 2:
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 3:
Using relevant examples to illustrate your arguments, analyze the different factors likely to influence the demand for tourism products.
Question 4:
Outline the short run and long run equilibrium of a monopoly market using examples from the tourism and/or hospitality sector to illustrate your arguments.
8,000,000 people in the population who are 16 yrs of age and older. 80% are willing to work. Currently 10% unemployment rate. a. how many people in labor force? b. How many are un
Visit to a village panchayat for agriculture based project
What is meant by non Price Competition? In which market structure does it exist? None price competition is an effort put by the supplier to earn extra profit without enhancing
Explain opportunity costs using a PPF where investment goods are on one axis and consumption goods on the other. Again, a good definition of opportunity costs linked to the not
The market demand for brand X has been estimated as Qx=1500-3Px-0.05I-2.5Py+7.5Pz Where Px is the price of brand X, I is per-capita income, Py IS the price of brand Y, and Pz is th
True public goods are those goods which can't be provided to one group of consumers, without being provided to any other consumers who desire them. Thus they are "non-excludable."
Tariff: A tariff is a tax imposed on the purchase of imports. It is generally imposed in order to stimulate more domestic production of the product in question (rather than meeting
Slope of an Iso-quant: Since along an iso-quant the level of output remains the same, if θL units of θL are substituted for K units of K, the increase in output due to θ L
If the MU of the 1st unit consumed = 75 utils, and the TU of consuming 2 units is 130 utils, what is the marginal utility of the second unit?
I need help with filling out the bank balance sheet.
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