Economics of tourism UE Past Papers Questions.


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(2352) Question Category: Short answers

Discuss the three fundamental economic questions that economists always try to answer.

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(2353) Question Category: Short answers

What do you understand by the term “elasticity of demand”?

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(2354) Question Category: Short answers

Discuss the five determinants of elasticity of demand that you learned in class.

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(2355) Question Category: Short answers

Define ther term “ marginal cost”.

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(2356) Question Category: Mathematical Calculation

You are given the following table of total cost and the corresponding outputs that were extracted from the expenditure book of a certain tour guiding company during high tourist season.

Output (kg) Total cost (US$)

0

1

2

3

4

5

6

7

8

9

10

90

95

100

105

110

115

126

146

186

270

490

Use the data given in above table to compute the company`s

  1. Marginal cost
  2. Variable cost
  3. Average total cost
  4. Average variable cost

Answer / Solution

UNSOLVED


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