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wel
3 years ago
15

Assume that you own a small boutique hotel. In an attempt to raise revenue you reduce your rates by 20 percent. However, your re

venue falls. What does this indicate about the demand for your boutique hotel rooms
Business
1 answer:
BigorU [14]3 years ago
7 0

Answer:

Demand is inelastic

Explanation:

Demand is inelastic, means that the demand of the buyer does not change as the price varies or changes.

For example, the price rises by 15% and the demand falls by 1%, which is said to be that the demand is inelastic.

So, in this case, the boutique hotel, tries to increase the revenue through decreasing the rates through 20%, but the revenues decreases. Therefore, this situation is that the demand of the boutique hotel is inelastic.

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If France had positive net exports last year, then it (A) sold more abroad than it purchased abroad and had a trade surplus.

<h3>What is trade surplus?</h3>
  • When focused simply on trade effects, a trade surplus indicates that a country's goods are in high demand on the global market, which raises the price of those items and leads to a direct strengthening of the home currency.
  • When exports surpass imports, the trade balance (surplus) is positive.
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  • For example, if China exported $1 trillion in products while importing only $200 billion in goods, it would have an $800 billion trade surplus.

Therefore, if France had positive net exports last year, then it (A) sold more abroad than it purchased abroad and had a trade surplus.

Know more about trade surplus here:

brainly.com/question/4126723

#SPJ4

The complete question is given below:
If France had positive net exports last year, then it

A. sold more abroad than it purchased abroad and had a trade surplus.

B. sold more abroad than it purchased abroad and had a trade deficit.

C. bought more abroad than it sold abroad and had a trade surplus.

D. bought more abroad than it sold abroad and had a trade deficit.

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1 year ago
Which statement is true of Critical Path Method (CPM)?
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d. It determines the critical path for the completion of a series of interrelated activities.

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