Unit 4: Production, Cost and Pricing for Tourism Products
Contents:Production function of tourism products: concepts and types; Concepts of cost: opportunity cost,accounting cost and economic cost, fixed cost and variable cost in tourism industry; Economic profit andbusiness profit; Market structure: concepts and characteristics, Firm’s equilibrium and profitmaximization model; Pricing practices: price discrimination, cost-plus pricing, incremental cost pricing,bundling, tying, two-part tariffs This study notes is […]
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