The HKSAR Government announced its participation in a joint venture with the American Walt Disney Company to construct a theme park in Hong Kong.The parkwill be completed in 2005.Explain how the construction of the theme park will affect the following:
a. the unemployment of local construction workers, assuming the wage rate is constant.
b. the total revenue of ocean park after the theme park is completed.
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2008-08-27 12:58 am
回答 (2)
2008-08-27 6:10 pm
✔ 最佳答案
a) The unemployment of local construction workers would definitely be reduced as the construction of theme park would employ many workers in order to construct the theme park. b) The total revenue of ocean park would also be reduced as the visitors/HK people would go to play in theme park instead of Ocean Park (they are substitutes).
2008-09-06 12:53 am
a. the unemployment of local construction workers, assuming the wage rate is constant.
Suppose that the unemployment will be redueced. Since the demand on labour will be increased.
b. the total revenue of ocean park after the theme park is completed.
Since ocean park is comparative with Disney, total revenue of ocean park will decrease.
Suppose that the unemployment will be redueced. Since the demand on labour will be increased.
b. the total revenue of ocean park after the theme park is completed.
Since ocean park is comparative with Disney, total revenue of ocean park will decrease.
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