4.2 [Related to the Economics in Practice on p. 309] One of the most popular tourist destinations...
Question:
4.2 [Related to the Economics in Practice on p. 309] One of the most popular tourist destinations in the United States is Las Vegas, famous for its casinos, hotels, shopping, dining, and live entertainment. Unlike many other destinations in the United States, price discrimination is common in Las Vegas, with many businesses regularly offering discounts to local residents for food and drink, entertainment, and even hotel rooms. Why do you suppose these “local’s discounts” are common in Las Vegas but not in most other U.S. cities? How is this pricing policy in Las Vegas similar to the one described in your text for the Buddhist temple in Laos?
Step by Step Answer:
Principles Of Microeconomics
ISBN: 9780691150093
13th Global Edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster