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larisa86 [58]
3 years ago
6

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, a vice president for Ritz....based on the information above the demand for hotel rooms
a. is income elastic
b. is income inelastic
c. is price elastic
d. is price inelastic
Business
1 answer:
beks73 [17]3 years ago
4 0
Based on the information above, the demand for hotel rooms is D. price inelastic.
This is the case because there is no change in demand, and when the price has changed, it shows 0 correlation between demand and price.
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It should be noted that the likelihood that a decision maker will be able to receive a payoff that is exactly as thesame as the EMV when a decision is being made will be near to zero as it's very low that it'll happen.

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The ending inventory of the previous period is the beginning inventory of the current period.

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Beginning inventory, or opening inventory, is your inventory cost at the beginning of an accounting duration. For that reason, finishing inventory, or last inventory is the cost of the stock at the top of an accounting duration.

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Learn more about Beginning inventory here: brainly.com/question/24868116

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2 years ago
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