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zlopas [31]
3 years ago
11

Convention hotels provide meeting rooms and banquet hotels to convention participants. Sometimes a specific convention may invol

ve 2000 members or only 75 members. To take care of both sizes of groups, convention hotels have movable walls that allow them to expand or contract a facility as needed by the group. By modifying its facility, the convention hotels are able to:
Business
1 answer:
Kryger [21]3 years ago
3 0

Answer:

adjust capacity to match demand

Explanation:

Based on the information provided in regards to the Convention hotels, it can be said that by modifying its facility, the convention hotels are able to adjust capacity to match demand. This is because if the convention event is bringing an occupational demand of 2000 members then the hotel can expand it's walls, thus adjusting to the capacity that the demand requires. The same goes for smaller demand, they can just shorten the walls to shrink the venue so that it is more comfortable for the guests.

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Along any downward sloping straight-line demand curve: Group of answer choices both the price elasticity and slope are constant.
vitfil [10]

Answer:

the price elasticity varies, but the slope is constant

Explanation:

The demand curve is a curve that shows the relationship between price and quantity demanded. The demand curve is negatively sloped because the higher the price, the lower the quantity demanded. This is in line with the law of demand.

According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

At the midpoint of the demand curve, demand is usually unit elastic. Above the midpoint of the demand curve, demand is elastic and blow the midpoint, demand is inelastic

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price  

Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price  

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.  

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.  

Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases  

Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.

8 0
3 years ago
A company's mission statement does NOT:_____.
kondor19780726 [428]

Answer:d) give the company its own identity. explain "where we are headed.

Explanation: A company's mission statement is a statement that specifically highlights the following

(1) The needs of the customer which the company plans to fulfill.

(2) Highlight the company's products and services which are rendered.

(3) It should also identify the Customer or market it is trying to reach.

This is what a good mission statement should be, The mission statement is different from the vision statement which tends to highlight where the company is heading to in the future.

5 0
3 years ago
The supply curve represents​ ___________. A. the maximum price buyers are willing to pay to buy an extra unit of a good. B. the
matrenka [14]

Answer:

The answer is: C) The minimum price sellers are willing to accept to sell an extra unit of a good.

Explanation:

A normal supply curve should move upward from left to right. The expresses the Law of Supply: (given that all other factors remain without change) As the price of a product increases, the quantity supplied should also increase.

For example:

An ounce of gold costs right now $1,500 and 100 ounces of gold are being traded right now at that price. If a new buyer comes in and wants to buy the 101th ounce of gold, then following a normal supply curve, the new buyer would need to pay more for that extra ounce of gold, maybe $1,510.

What the supply curve shows us is that given a certain price Y, a company will be willing to sell X amount of goods.  The more demand a product has (X + 1) > X, then the price Y will increase until a new balance is found.

8 0
3 years ago
You are trying to decide whether to take a vacation. Most of the costs of the vacation (airfare, hotel, and forgone wages) are m
masha68 [24]

Answer:

Which of the following is true if you decide to take the vacation?

(B) The benefits of going on the vacation exceed the benefits you would obtain from the new computer.

Explanation:

The benefits of going on the vacation exceed the benefits you would obtain from the new computer.

The cost of going on the vacation is less than the cost of the computer.

4 0
3 years ago
Scenario: Scooters Inc. Scooters Inc. is a producer of pricey scooters. The company's profits come mostly from the sales of its
goldfiish [28.3K]

Answer:

Dual pricing strategy.

Explanation:

Dual pricing strategy: It is a pricing strategy to sell at one price in the local market and a different prices for the international market to customize the price of the product as per the market condition and cost incurred by the company. It is more sensitive toward market condition and it avoids standardizing the price in the global market to gain more demand of product and pricing could be used as a strategic weapon to penetrate the market or to gain more profit from the market.

Hence, Scooters Inc. is using dual pricing strategy.

4 0
3 years ago
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