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Author Question: According to an article in the Wall Street Journal, unlike airlines, even elite hotels don't have ... (Read 84 times)

rlane42

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on: Jun 29, 2018
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 Ritz-Carlton.
  Source: Jesse Drucker, In Times of Belt-Tightening, We Seek Reasonable Rates, Wall Street Journal, April 6, 2001.
 
  Based on the information above, the demand for hotel rooms is
  A) perfectly elastic. B) inelastic. C) unit elastic. D) elastic.

Question 2

The total amount of consumer surplus in a market is equal to the area below the market demand curve and above the market price.
 
  Indicate whether the statement is true or false
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C.mcnichol98

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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rlane42

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

Jsherida

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Reply 3 on: Yesterday
:D TYSM

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