Ask
your own question, for FREE!
Economics - Financial Markets
17 Online
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
Still Need Help?
Join the QuestionCove community and study together with friends!
I think its d. (price inelastic)
d.) price inelastic. no change in demand when price has changed shows 0 correlation between demand and price.
Can't find your answer?
Make a FREE account and ask your own questions, OR help others and earn volunteer hours!
Join our real-time social learning platform and learn together with your friends!
Join our real-time social learning platform and learn together with your friends!
Latest Questions
Yosad930:
okay another random question that even google itself isnt helping me with: why cant i zoom in and out anymore with the touchpad? yk how when you pinch your
AddieroniAndCheese:
Tips for studying for an AP exam in like a week? I barely know anything about chem T-T.
thereneelg:
Ok so. I need help. So for one of my songs in choir, The Power of Love. We have to hold one of the "Love"s for a long time.
Aniii:
What is the mean of the following set of numbers: 4, 8, 6, 5, 3? 5.0 5.2 6.0 7.0
gelphielvr:
(algebra 1) input data, revenue f(x) = initial amount(interest)^x question in the
Yosad930:
;-; exam is next tuesday, and i dont get a single thing (well maybe one or two) c
H1m:
What does tariffs mean and what are they exactly? I need an answer from someone that actually knows.
32 minutes ago
8 Replies
0 Medals
12 hours ago
3 Replies
1 Medal
10 hours ago
12 Replies
1 Medal
22 hours ago
5 Replies
0 Medals
11 hours ago
10 Replies
1 Medal
12 hours ago
15 Replies
0 Medals
20 hours ago
13 Replies
3 Medals