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beks73 [17]
3 years ago
10

The High Towers Center is a 300-room hotel that was built ten years ago for a total project cost of $24,000,000. The market valu

e of the facility is now estimated at $42,000,000, and the general manager estimates that the level of guest service is worth at least $5,000 per room per year. A close competitor of the hotel charges $110 per night per room. According to the $1 per $1,000 approach to pricing rooms, what should the price of a room night be at the High Towers Center?a. $80b. The answer cannot be determined from the information given.c. $140d. $110
Business
1 answer:
joja [24]3 years ago
4 0

Answer:

a. $80

Explanation:

investment made                                         $24,000,000

Return required at $1 per 1,000                   $24,000

Number of rooms                                           300

Room rent should be = $24,000 / 300

                                    = $80

Therefore, The price of a room night be at the High Towers Center should be $80.

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A(n) ________ strategy focuses on new market and product development, innovation, and joint ventures. privatization external gro
Stolb23 [73]

Answer:

Internal growth.

Explanation:

Internal growth strategy is one that uses internal resources to develop a company internally. It focuses on increasing efficiency, hiring the right people, new product development, and better marketing.

Internal growth is also known as organic or natural growth. Growth results in increased profit which is now reinvested in the business.

6 0
3 years ago
What are the major determinants of price elasticity of demand?
Greeley [361]

Explanation:

The four factors that affect price elasticity of demand are

(1) availability of substitutes

(2) if the good is a luxury or a necessity

(3) the proportion of income spent on the good

(4) how much time has elapsed since the time the price changed.

5 0
2 years ago
SmartSC purchases from Supplier A are priced at $30 each and used at the rate of 600 units per month. Components purchased from
artcher [175]

Answer:

SmartSC

The economic order quantity (EOQ) for Supplier A is:

= c) 253

Explanation:

a) Data and Calculations:

                               Supplier A       Supplier B

Price per unit                $30                 $6

Annual unit demand 7,200            3,000

Annual holding cost      $9                 $1.80 ($6 * 30%)

Ordering cost              $40

Economic order quantity for Supplier A = square root of (2 * D * S)/H

where D = Annual demand in units

S = Ordering cost per order

H = Holding cost per unit

= square root of  (2 * 7,200 * $40)/$9

= square root of 64,000

= 253

7 0
3 years ago
6. If the price elasticity of supply is 1.2, and a price increase led to a 5% increase in quantity supplied, then the price incr
PolarNik [594]

Answer:

Price increase is about 4.2%

Explanation:

Price Elasticity of Supply (PES) is a measure of the responsiveness of the quantity of a particular good/service supplied to a change in price.

The price elasticity of supply is mathematically the ratio of the percentage change in quantity supplied to the percentage change in price.

PES = \frac{\%\ change\ in\ quantity}{\%\ change\ in\ price} \\where\\PES= 1.2\\\% change\ in\ quantity = 5\%\\\%\ change\ in\ price = ???\\\therefore 1.2 = \frac{5}{\%\ change\ in\ price}\\ \%\ change\ in\ price = \frac{5}{1.2} \\\%\ change\ in\ price = 4.16\%

5 0
3 years ago
36. Regina Company purchased a Cash register on January 1 for $5,400. This register has a useful life of 10 years and a salvage
nikitadnepr [17]

Answer:

$864

Explanation:

Double-declining-balance charges a higher depreciation in early years of the asset and lower in the later years using the formula :

Depreciation expense = 2 x SLDP x BVSLDP

Where,

SLDP = 100 ÷ useful life

         = 10 %

and

BVSLDP = Cost (1st year) and Book Value (any other year)

therefore,

Year 1

Depreciation expense = 2 x 10 % x $5,400

                                      = $1,080

Year 2

Depreciation expense = 2 x 10 % x ($5,400 - $1,080)

                                      = $864

thus

The depreciation expense for the second-year of its useful life using the double-declining-balance method is $864.

5 0
2 years ago
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