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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.
Q. Loss at the point of equilibrium? Losses: At the point of equilibrium i.e. E where MR = MC, firm produces OM amount of the output. To produce this output, firm incurs an a
Q. Show the method of production? A process or method of production is a combination of inputs essential for the production of output. A method of production is technically eff
features of monopoly?
NATIONAL INCOME AND WELFARE The relationship between National Income and Welfare is best explained in terms of economic growth (By economic growth is meant capacity expansio
1
what is international pricing method?
(a) Define and explain, using diagrams, consumers' surplus; producers' surplus and total surplus that a society can derive from production and consumption of a good at a particu
Using the National Output for Calculating National Income A final method which is more direct is the "output method" or the value added approach . This involves adding up
Describe the Managerial decisions Managerial decisions are an important component in the working wheel of an organisation. The failure or success of a business depends upon the
Electron Control, Inc., sells voltage regulators to other manufacturers, who then customize and distribute the products to quality assurance labs for their sensitive test equipment
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