[Appendix; Advanced Material] Restaurants try to buy just enough fish to match the expected walk-ins and reservations. If they buy a lot more fish, in the language of revenue management:
a. Spoilage increases
b. Spillage increases
c. Overbooking increases
a
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Refer to the scenario above. Suppose the decision to levy a tax on emission of greenhouse gases costs 500 utils in present value and that the discount weight attached to the future benefit is 1/17
In this case, the net benefit earned by the people is: A) -300 utils. B) -441.18 utils. C) 333.65 utils. D) 420 utils.
If people expect the price of shorts to rise next month, the demand for shorts will
a. decrease now. b. increase now. c. stay the same now and increase next month. d. stay the same now and decrease next month. e. stay the same now and next month.
Other things the same, an economy's factors of production are likely to be used more effectively if there is an economywide respect for property rights
a. True b. False Indicate whether the statement is true or false
The value of the Swiss franc relative to the dollar would decrease if the demand for dollars increases and the supply of Swiss francs
A. remains unchanged. B. increases. C. decreases. D. all of the above are correct