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Lets suppose that a city such as Norfolk or Richmond successfully opens a gambling casino....

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Accounting

  1. Lets suppose that a city such as Norfolk or Richmond successfully opens a gambling casino. (a) What must happen for these casinos in order for them to generate a net increase in the value of economic activity in these cities? In their regions? In Virginia? (b) Suppose the conditions you identified in (a) are unlikely to be satisfied. Why might many governments nevertheless be in favor of casino developments in their jurisdictions?

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