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The demand and supply for hotel rooms in a city is given by Qd=100-5P Qs=5P What is the price and number of rooms sold? Suppose
- The demand and supply for hotel rooms in a city is given by
Qd=100-5P
Qs=5P
- What is the price and number of rooms sold?
Suppose the city puts a $10 tax on rooms that must be paid by the hotelier:
Qs=5(P-T)
What is the price to the hotelier, travelers, and number of rooms?
- What is the loss of wealth (dead weight loss)?
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Industrial Relations in Canada
Authors: Fiona McQuarrie
4th Edition
978-1-118-8783, 1118878396, 9781119050599 , 978-1118878392
