Question

What is one specific factor that you think is likely to cause a shift in the...

What is one specific factor that you think is likely to cause a shift in the demand curve for the good or service of the hotel industry in the next 3-5 years? 5. Relying on the one factor you named in the previous question, represent the change (the shift) you expect using a demand diagram and explain your answer.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

The factor that can have a significant influence on the hotel industry is the taste and preferences of the consumers.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
What is one specific factor that you think is likely to cause a shift in the...
What is one specific factor that you think is likely to cause a shift in the supply curve for the good or service of the hotel industry in the next 3-5 years? Relying on the one factor you named in the previous question, represent the change (the shift) you expect using a supply diagram and explain your answer.
List all the factors cause the supply curve to shift. Explain what each factor is in...
List all the factors cause the supply curve to shift. Explain what each factor is in detail and provide a real world example of each one.
what are some factors that you think cause the good or service for makeup foundation to...
what are some factors that you think cause the good or service for makeup foundation to be unit elastic? please explain in detail and is it related to the determinants of price elasticity of demand? and also, describe the shape of the demabf curve about make up foundation ? please help answers all these questions ? thank you
Think of a good or service you would stop buying if price went up by 10%....
Think of a good or service you would stop buying if price went up by 10%. Use the demand and supply model to show how the price of that product or service might increase by 10% and include a plausible explanation. Your explanation should include a shift of either demand or supply (or both) of the good/service. It should also include a plausible explanation about what caused the curve(s) to shift. Be sure to explain which direction the curve(s) shifted...
Describe whether the following changes cause the aggregate demand curve to increase (shift right), decrease (shift...
Describe whether the following changes cause the aggregate demand curve to increase (shift right), decrease (shift left), or neither. (a) The price level increases. (b) Investment decreases. (c) Imports decrease and exports increase. (d) The price level decreases. (e) Consumption increases. (f) Government purchases decrease. Describe whether the following changes cause the long-run aggregate supply curve to increase (shift right), decrease (shift left), or neither. (a) The price level increases. (b) The stock of capital in the economy increases. (c)...
Think of a relevant example in your own life of how a change in the market...
Think of a relevant example in your own life of how a change in the market (including information, preferences, technology, price of alternative goods, regulations, taxes, etc.) has shifted either the supply or demand of a good. How did this change affect the market equilibrium for that good or service? Explain. Next, find a relatively recent news article (within the past year) to support your finding (the news search feature in Google is helpful with this). If you cannot find...
Think of a relevant example in your own life of how a change in the market...
Think of a relevant example in your own life of how a change in the market (including information, preferences, technology, price of alternative goods, regulations, taxes, etc.) has shifted either the supply or demand of a good. How did this change affect the market equilibrium for that good or service? Explain. Next, find a relatively recent news article (within the past year) to support your finding (the news search feature in Google is helpful with this). If you cannot find...
Briefly explain why you think the following statements are true, false, or uncertain. Your grade will...
Briefly explain why you think the following statements are true, false, or uncertain. Your grade will depend largely on the quality of your explanations. In the very short run price is absolutely fixed. Firms in long‑run equilibrium in a perfectly competitive industry will produce at the low points of their average variable cost curves because firms maximize profits and free entry implies that maximum profits will be zero. If a 1 percent increase in price leads to a 0.7 percent...
What factor is most likely to increase the bargaining power of buyers? a. Switching costs are...
What factor is most likely to increase the bargaining power of buyers? a. Switching costs are high. b. Purchases represent a small percentage of the buyer's costs. c. Buyers do not have access to full information on supply prices and terms. d. Buyer profit margins are low. What does the term "economies of scale" describe? a. The expense incurred by customers when moving from one provider or product to another. b. The heavy development and advertising costs necessary to establish...
Would you expect a shift in supply to have a greater effect on equilibrium quantity in...
Would you expect a shift in supply to have a greater effect on equilibrium quantity in the short run or in the long run? Explain your answer. (multiple choice) a.)The same effect on equilibrium quantity in the short run and the long run because when analyzing one good, it is predicted that elasticity does not change. b.)A greater effect on equilibrium quantity in the long run because the longer the time period, the greater the increase in income and thus...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT