The operating profitability of casinos comes primarily from the fact that
A. the expected value of any gamble (to the gambler) is negative.
B. they typically charge an enormous amount for alcohol.
C. they typically have a significant cover charge.
D. the expected value of any gamble (to the casino) is negative.
Answer: A
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The market value of all final goods and services in an economy produced by resources owned by people of that economy is:
a. personal income. b. national income. c. capital income. d. gross national product. e. gross domestic product.
If the economy experiences inflation, aggregate
What will be an ideal response?
According to the efficiency wage model, during a recession, firms will not reduce real wages because
A) unions would go on strike, reducing profitability. B) this would reduce worker effort and productivity. C) the equilibrium real wage has increased. D) legally, they can't.
In oligopoly, minimum efficient scale is large relative to the market
a. True b. False