Answer those question as what you think.

1. Assume a hospitality facility is considering an experience enhancing investment to attract more clientele. What do you think should be the top two considerations as factors in the decision process, and why?
2. There is a local golf course across the highway from your hotel. How would you as the manager approach the golf course to gain information about possible future tournaments that will be held by the course? Who would you talk to and why? What kind of incentives would you use in order to get the business of the golfers?
3. Suppose that a small family farm sold its output for $100,000 in a given year. The family spent $25,000 on fuel; $40,000 on seed, fertilizer, and pesticides; and $25,000 on equipment, including maintenance. The family members could have earned $20,000 working at other occupations. What is the family's accounting cost? What is the family's economic cost? Could the family's economic cost ever exceed its accounting cost? Why or why not?
4. News reports from the western United States occasionally report incidents of cattle ranchers slaughtering many newborn calves and burying them in mass graves rather than transporting them to markets. Assuming that this is rational behavior by profit-maximizing "firms," explain what economic factors may influence such behavior. Justify your answer.