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victus00 [196]
3 years ago
6

A common room pricing strategy used by hotels is to price each day for which this room can be reserved, as discussed in the lect

ure. The price of a stay is then the sum of the day prices spanned by the stay (i.s., checkin and checkout dates). Full-service airlines, as you may already know, typically price itineraries. a. Explain the differences between day pricing of hotel rooms and the pricing of airline itineraries
Business
1 answer:
riadik2000 [5.3K]3 years ago
8 0

Answer:

Explanation:

The differences between day pricing of hotel rooms and the pricing of airline itineraries can be summarized based on what the product is, what the resource is, and what is being priced.

For Airline,

The product: itineraries

The resource: flight legs used by the itinerary

What is being priced: itinerary (the product).

For Hotel,

The product: multi-day stay

The resource: room on a particular day

What is being priced: room on a particular day (resource). The price of the multi-day stay (product) is the sum of the prices of each particular day (resource).

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3 years ago
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Masteriza [31]

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4 years ago
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professor190 [17]

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The correct answer that fills the gaps are: A. increase; E. decreasing.

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The Law of diminishing returns has a fundamental role in the productivity of a factor, since it indicates that the marginal productivity of each factor decreases as more units of it are added to the production process (leaving the rest of the productive factors in a constant amount). In this way exceeding the optimum amount of a productive factor can even result in a decrease in total productivity.

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Explained in simple words, it seems that despite what may be thought a priori, increasing a factor not only does not increase the production of the good or service but can lead to a gradual decrease in the amount produced.

------

NOTE: If you need to extend the explanation given, you can make a comment or add a new question. I will be very pleased to help you.

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