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tino4ka555 [31]
4 years ago
5

According to an article in the Wall Street​ Journal, unlike​ airlines, even elite hotels​ don't have sophisticated systems that

can react quickly to changes in demand. Even if they​ could, many hoteliers say people​ don't respond that much to lower rates.​ 'We've tested​ this, cutting our rates by​ $50 [per​ night], and we​ didn't see an appreciable response in​ occupancy,' says Jim​ Schultenover, a vice president for RitzminusCarlton. ​Source: Jesse​ Drucker, "In Times of Beltminus​Tightening, We Seek Reasonable​ Rates", Wall Street Journal​, April​ 6, 2001. Based on the information​ above, the demand for hotel rooms is?
Business
1 answer:
joja [24]4 years ago
4 0

Answer:

The demand for hotel rooms is inelastic

Explanation:

An inelastic demand is the one that is not very sensitive to price changes (the price elasticity of demand is less than one). In this case, even though the RitzminusCarlton hotel cut they rates by $50 per night, they did not see a significant response in occupancy. It is not perfectly inelastic because in that case the RitminusCarlton hotel would not have seen any changes in occupancy (they saw a response in occupancy, but it was not meaningful). In the demand and supply graph, an ineslatic demand curve is steeper than the normal one. The more inelastic the more steeper the curve.

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suppose your club is selling candles to raise money. It costs $100 to rent a booth from which to sell the candles.If the candles
Viefleur [7K]

Answer:

Number pf candles is equal to 25

Explanation:

We have given cost of rent = $100

Cost price of one candle = $1

And selling price of one candle = $5

Let the number of candles = x

So total expense =100+x\times 1=100+x

Total earning =5\times x=5x

According to question expense is equal to earning

So 100+x=5x

4x=100

x = 25

So number pf candles is equal to 25

6 0
3 years ago
The detailed record of the changes in a particular​ asset, liability, or​ stockholders' equity is called A. an account. B. a jou
Zanzabum

Answer: The correct answer is A. an account.

Explanation: Journal records transactions that have taken place in a particular ledger at a particular period/date and it can be used to correct the ledger balance or mispostings.

A ledger consists of the various accounts of an organization, the changes/movement in those accounts as journals are processed including their balances.

A trial balance consists a list of all the accounts, ledger codes and their balances at a particular time period and the total of all the accounts must be zero in a trial balance.

Although all the four elements: account, journal, ledger and trial balance are all interwoven and have to operate in unison, the definition in the question is for account. An account gives you detailed changes in all the elements of the financial statements.

6 0
3 years ago
WILL GIVE BRAINIEST! What is advertising? What is the difference between promotional and institutional advertising? Each Post 2
Liula [17]

Advertising: Advertising is a means of communication with the users of a product or service. Advertisements are messages paid for by those who send them and are intended to inform or influence people who receive them. Advertising is always present, though people may not be aware of it. In today's world, advertising uses every possible media to get its message through.

Promotional and Institutional: Institutional promotion is used to convey your company's brand message to target customers. While it doesn't directly result in sales, the idea is that by promoting your company and its values, you appeal to customers that appreciate what you have to offer. Product promotion is routinely used to attract customers to a product and increase their perception of its value

7 0
3 years ago
Suppose that there is a financial crisis, and people choose to spend less. As a result, velocity drops by 5 percent. According t
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Answer:

Eight(8) percent

Explanation:

Base on the scenario been described in the question, the fed will need to the supply of money by eight (8) percent in to achieve their target.

8 0
3 years ago
Donham Corporation had $25,000 of raw materials on hand on May 1. During the month, the Corporation purchased an additional $65,
BlackZzzverrR [31]

Answer:

d. $66,000

Explanation:

Raw Material requisition = $66,000

Raw Material requisition is transferred to work in process account by following entry

                                               Dr.           Cr.

Work in process               $66,000

Raw Material Inventory                    $66,000

The debits to the Work in Process account as a consequence of the raw materials transactions in May is $66,000.

8 0
4 years ago
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