Assignment - The assignment is to review the economy of the hotel industry in Sydney, Australia. You will need to show an understanding of its main features and to demonstrate your understanding of the principles of economic analysis in addressing the following questions.
1. Outline the main features and trends in Sydney's hotel industry outlook. (600-700 words, exclude references)
2. Explain and account for the price and income elasticity of demand in this market in both the short run and the long run. (600-700words, exclude references).