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23 Jun 2018
10. [3 Marks] Assume: a) a perfectly competitive market for hotel rooms in Hawaii; b) standard upward sloping supply and downward sloping demand; and c) all tourists arrive in Hawaii by plane. Limiting yourself to the Hawaiian hotel market, what are the surplus effects of a $100 increase in the price of flights to Hawaii? A. Surplus remains the same as the market maximizes surplus. B. CS will l; PS will . C. CS will l; PS may 1 or. D. CS may † or l; PS will . E. CS may for t; PS may † or.
10. [3 Marks] Assume: a) a perfectly competitive market for hotel rooms in Hawaii; b) standard upward sloping supply and downward sloping demand; and c) all tourists arrive in Hawaii by plane. Limiting yourself to the Hawaiian hotel market, what are the surplus effects of a $100 increase in the price of flights to Hawaii? A. Surplus remains the same as the market maximizes surplus. B. CS will l; PS will . C. CS will l; PS may 1 or. D. CS may † or l; PS will . E. CS may for t; PS may † or.
larryrambo777Lv10
15 Mar 2023
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Casey DurganLv2
25 Jun 2018
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