This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose you are managing a 100 room hotel that has 5 empty rooms for tonight. The cost of operating ... (Read 129 times)

soccerdreamer_17

  • Hero Member
  • *****
  • Posts: 552
on: Jun 30, 2018
Suppose you are managing a 100 room hotel that has 5 empty rooms for tonight. The cost of operating your 100 room hotel for a night is 10,000 and the average cost is 100 per room. If the marginal cost of operating one room for one night is 30 and a customer is willing to pay 50 for the night, you should
 a. rent the room because the marginal benefit exceeds the marginal cost.
 b. rent the room because the marginal benefit exceeds the average cost.
 c. not rent the room because the marginal benefit is less than the marginal cost.
  d. not rent the room because the marginal benefit is less than the average cost.

Question 2

Provide the formula for the expenditure approach to GDP accounting and include an example of each category of spending.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

pami445

  • Sr. Member
  • ****
  • Posts: 303
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

GDP = C + I + G + (X M). Examples will vary.


soccerdreamer_17

  • Member
  • Posts: 552
Reply 2 on: Jun 30, 2018
Gracias!

cam1229

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Managing large bands of grazing animals requires detailed knowledge of local landscapes, especially Managing large bands of grazing animals requires detailed knowledge of local landscapes, especially
Doctors in China pray before operating Doctors in China pray before operating
Compared to a chimpanzee, the human newborn has relatively little room to spare as it passes through Compared to a chimpanzee, the human newborn has relatively little room to spare as it passes through
A physician uses a portable electronic tablet to enter patient data while in the examination room. A physician uses a portable electronic tablet to enter patient data while in the examination room.
Find the temperature of the room (above the outside temperature) at the end of 120 min Find the temperature of the room (above the outside temperature) at the end of 120 min
Entrepreneurship: Starting and Operating a Small Business (3rd Edition) Entrepreneurship: Starting and Operating a Small Business (3rd Edition)
Video: EpiPen Animation (Part 2)

For a complete list of videos, visit our video library