Question

In: Economics

Iron Bridge offers the "Ten-Mile" rummage sale along route 322 to Runnymede on Saturday March 11th....

Iron Bridge offers the "Ten-Mile" rummage sale along route 322 to Runnymede on Saturday March 11th. Consumers who go to the sale will spend $60 each with 200 shoppers per mile in total over the length of the sale. They will incur an expense of $2 per mile one-way to travel to get yard goods. Shoppers are evenly distributed along the route and travel to the nearest booth. Vendors pay a $300 fee to participate in the sale and forego $450 of time for the day.

How many vendors will set up booths?

Where will they locate?

Where would consumers prefer that the booths be located?

If this is a fund-raising activity for the local community, what should they do?

Solutions

Expert Solution

refers to the current and historical relations between Saudi Arabia and Thailand. Saudi Arabia has an embassy in Bangkok and Thailand has an embassy in Riyadh but representation is at the chargé d'affaires rather than ambassadorial level. However Saudi Arabia and Thailand aim to restore the relations between their two nations.[1] Relations between the two countries were established in 1957 and hundreds of thousands of Thais went to Saudi Arabia to work.[2] The historically friendly and strategic partnership between Saudi Arabia and Thailand has deteriorated significantly following the Blue Diamond Affair. Although regardless of relation status, Saudi Arabia and Thailand have high trade between two nations (further look in →Economic Relations). Saudi Arabia and Thailand still work together diplomatically as the dispute is between the generals who overthrow the governments at most times. In recent Saudi Arabia and Thailand have shown intent to repair the relations between the two kingdoms.


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