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Problem 1:
You are the manager of a reputed five star hotel in Mauritius and you have been asked by the director of the hotel to advise on possible pricing strategies to increase revenue. Describe the strategies that you would recommend and why?
Problem 2:
Describe why and how government intervenes to improve the allocation of resources.
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Supply and Demand Discuss and analyze following statement: The Wall Street Journal reported that recent law school graduates were having a very difficult time obtaining jo
law of demand
producer equllibrium
Q 3. What is Demand Forecasting? Explain in brief various methods of forecasting demand.
The optimum output and price level is always determined with the concepts of revenue and costs-the difference in joint or independent production will show in the differences in cos
ROLE OF SCARCITY IN MANAGEMENT DECISION MAKING
Average Total Costs (ATC) This is total cost per unit of output, obtained by dividing total cost by total output i.e. ATC = Total Cost Total Outp
Determine the Giffen goods - law of demand An exception to this law is the distinctive case of Giffen goods named after Sir Robert Giffen (1837-1910). 'Giffen goods' doesn't re
In the national income analysis, investment refers to the value of than part of the aggregate output for any given time period which takes the form of construction of new structure
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