If average household income increases by 10%, from $50,000 to $55,000 per year, the quantity of rooms demanded at the Triple Sevens from rooms per night to rooms per night. Therefore, the income elasticity of demand is , meaning that hotel rooms at the Triple Sevens are . If the price of a room at the Exhilaration were to decrease by 10%, from $250 to $225, while all other demand factors remain at their initial values, the quantity of rooms demanded at the Triple Sevens from rooms per night to rooms per night. Because the cross-price elasticity of demand is , hotel rooms at the Triple Sevens and hotel rooms at the Exhilaration are . Triple Sevens is debating decreasing the price of its rooms to $175 per night. Under the initial demand conditions, you can see that this would cause its total revenue to . Decreasing the price will always have this effect on revenue when Triple Sevens is operating on the portion of its demand curve.

Answers

Answer 1

Answer:

Some numbers are missing, so I looked for similar questions:

If average household income increases by 10%, from $50,000 to $55,000 per year, the quantity of rooms demanded at the Triple Sevens from 300 rooms per night to 350 rooms per night. Therefore, the income elasticity of demand is             , meaning that hotel rooms at the Triple Sevens are      .

income elasticity of demand = % change in quantity demanded / % change in income

income elasticity of demand = 16.7% / 10% = 1.67, since it is positive, then they are normal goods, and since their IED ≥ 1, they can also be considered luxury goods.

If IED is negative, that means that a good is an inferior good, since the more you earn, the less you consume.

If the price of a room at the Exhilaration were to decrease by 10%, from $250 to $225, while all other demand factors remain at their initial values, the quantity of rooms demanded at the Triple Sevens from 300 rooms per night to 200 rooms per night. Because the cross-price elasticity of demand is      , hotel rooms at the Triple Sevens and hotel rooms at the Exhilaration are        .

Cross price elasticity of demand = % change in quantity demanded of Triple Sevens hotel rooms / % change in price of Exhilaration hotel rooms

Cross price elasticity of demand = -33.33 / -10% = 3.33

Triple Sevens hotel and Exhilaration hotel are substitutes since their cross price elasticity is positive.

Triple Sevens is debating decreasing the price of its rooms to $175 per night (from $200). Under the initial demand conditions, you can see that this would cause its total revenue to        . Decreasing the price will always have this effect on revenue when Triple Sevens is operating on the        portion of its demand curve.

original revenue before change in price = $200 x 150 rooms = $30,000

revenue after decreasing price = $175 x (150 x 1.1667) = $175 x 175 rooms = $30,625

total revenues will increase by $625, this happens because Triple Sevens hotel is operating on the elastic portion of the demand curve.


Related Questions

Lee is preparing a presentation about the terrestrial planets. He creates the table below using the Drag option.

A 3 column table with 4 rows. Column 1 is labeled Planet with entries Mercury, Venus, Earth, Mars. Column 2 is labeled Mass (10 Superscript 24 Baseline kilograms) with 4 blank entries. Column 3 is labeled Diameter in kilometers with 4 blank entries.

Over how many squares did Lee drag his cursor horizontally to create the table?

Over how many squares did Lee drag his cursor vertically to create the table?

Answers

Gooday to you, the answer is 3 and 5. I could explain why, but if you really think about it its not that hard. Also, if it reassures you, I took the test for BOS in Edg 2020

Answer

The answer is 3 and 5.

Explanation:

Which form of marketing do firms employ when they target a segment of customers who already use the kind of products they offer? When firms target a segment of customers who already use the kind of products they offer, they exhibit ______ marketing.

Answers

Answer:

The answer is inbound marketing.

Explanation:

On Edmentum, the lesson states "Inbound marketing, on the other hand, targets a segment of customers who already use the kind of products you offer."

The purchases journal of a business that uses the periodic inventory system will include a column titled​ ________. A. Merchandise Inventory DR B. Accounts Payable DR C. Purchases DR D. Cost of Goods Sold DR

Answers

Answer:

C. Purchases DR

Explanation:

Based on the information given the purchases journal of either a business or company which makes use of PERIODIC INVENTORY SYSTEM

will include a column that is titled PURCHASES DR reason been that PERIODIC INVENTORY SYSTEM is a type of inventory system in which inventory are be updated only on periodic basis

which simply means that their is no inventory record that are up to date when a business or a company makes use of PERIODIC INVENTORY SYSTEM.

Therefore the purchases journal of a business which makes uses of periodic inventory system will include a column titled​ PURCHASES DR

Adidas America Inc. v. Payless Shoesource Inc.
Sneaker giant Adidas once went to war with discount shoe chain Payless, and the conflict was all due to stripes. Adidas has used three stripes on its shoes since 1952, and has registered the pattern as its trademark. But during the 1990s, Payless began selling athletic shoes with a similar look. Some of their sneakers had two parallel lines and others had four. The two companies met and reached an agreement. Payless would stop selling its shoes. However, Payless brought back its striped shoes in 2001, which went against the settlement. So Adidas America Inc. took them to court. The jury trial lasted seven years. During the course of it, 268 pairs of sneakers were examined. By the end, the jury determined that Payless owed Adidas $305 million. Wall Street Journal’s Law Blog declared that was $100 million for each stripe.

Why is this case an example of trademark violation?
A) Payless made sneakers with a pattern that is similar to the Adidas logo
B) Payless hired a designer from Adidas to create sneakers for them,
C) Payless used the Adidas logo in its TV commercials and print ads
D) Payless made running shoes based on the style and design of an adidas sneaker.

Answers

Answer:

A) Payless made sneakers with a pattern that is similar to the Adidas logo

Explanation:

Answer:A) Payless made sneakers with a pattern that is similar to the Adidas logo

Explanation:

A man walks around a circular park 4 times in 12 minutes. The radius of the park is 49m. Find the speed of the man in km/h.​

Answers

Suge the reason its suge is because this dababys hit song which landed up on baby on baby album. Remember blame it on baby BOP Suge ROCKSTAR.

Which of the following criteria is important when identifying a potential
mentor?
A. Whether you admire the person
B. The person's passions outside of work
C. How much money the person makes
D. How many mentees the person has had previously
SUBMIT

Answers

Answer: A

Explanation:

Answer:

A. Whether you admire the person

Explanation:

what would you do when you grow up?*Career*
And explain why!

Answers

Answer:

Nursing or famous singer

Explanation:

because I want to inspire other people and make them happy.

Answer:

Explanation:

W

hat do you want to be when you grow up? Have you ever been asked that question before? What was your answer?

You might say you want to be a firefighter, a ballerina, a policeman, a professional athlete, a doctor, or a teacher. Parents and teachers who ask this question of their children and students will tell you that very few kids express an interest in being an insurance adjuster, an administrative assistant, a market researcher, or a database administrator.

Why is that? Although there are literally billions of people in the world working in all sorts of jobs, you might only know about the jobs held by people you come into contact with in your daily life.

For example, you might be familiar with the jobs your parents, friends, or relatives hold, as well as those you see portrayed on television shows or held by people you come into contact with in your community, such as doctors, dentists, and teachers.

Since you will likely have to work a full-time job to support yourself and perhaps your family in the future, it's important to choose a career path that provides both necessary income and job satisfaction. If you choose a job that makes you unhappy, your life will not be as happy and fulfilling as you want it to be.

Be sure to investigate all kinds of careers. The perfect job for you might be something that you've never heard of…yet! The future is unwritten and the possibilities are endless. Tomorrow's happiness and success will depend in part on the planning and work you do today with tomorrow in mind.

Thinking about the future and planning for what you want to be when you grow up should not be limited to just one day, though. Start talking with teachers, parents, relatives, friends, and mentors in all sorts of settings — at school, at home, at work, at church — any time you have questions about the future.

There's never a bad time to think about your talents and interests and wonder how those might someday shape your future career. What subjects do you enjoy and excel at in school?

Are you a math whiz? Maybe you should be an engineer or a scientist someday. If you're good at language arts, perhaps you could become a writer. Do you look forward to art more than any other class? Perhaps a career in design is in your future.

Although working for a living may seem far, far away, it's closer than you think. Planning for success in the future starts today. As you think about careers, explore what skills and education you will need to be successful in the careers that interest you.

For example, if you are interested in careers that require a college degree, you will need to work hard in school — now — to ensure that you are able to attend college one day. Some careers don't require a college degree, but specialized training may be necessary. For example, if you want to be a chef, you might need to attend a special culinary arts program.

Knowing what type of education or training you need for various careers will help you plan today to get where you want to be tomorrow!

Don't limit your explorations to careers that exist today. Many of the people working in the field of computers and Internet technology have jobs that did not exist when they were children. Believe it or not, you may one day work in a job that no one has yet dreamed into existence.

When you look into your crystal ball to see what the world will be like in 10, 15, or even 20 years from now, what do you see? What trends do you think will continue? What types of jobs will always exist? What types of jobs exist today that might be gone by the time you are ready to enter the workforce?

So take some time today to dream. And dream big! The world is your oyster. Make the most of it.

Dream about the type of world you want to live in. Dream about the family you want to have and what type of community you want to live in. Dream about what you love to do and what you're good at. Start dreaming of the person you will be one day. Then make it happen!

Which sentence indicates that Roger's company, Fine Jewelry, follows a subscription business model? Roger's company, Fine Jewelry, sells customized jewelry. The company designs earrings, watches, and necklaces based on customer preferences, It charges a monthly fee for this service. Customers get a new plece of Jewelry every three months.​

Answers

Answer:

Its "Customers get a new piece of jewelry every three months.

Explanation:

The first option, never tells what the customer gets in return.

 Sorry this answer is two weeks late. Happy Thanks Giving!

If Yolanda wishes to understand her coworkers more deeply, she should study their ______.

a. Body language

b. Family tree

c. TV viewing habits

d. Clothes

This is for career planning, there’s not a category for it.

Answers

Answer:

A. Body Language should be your answer

Answer:

A. Body Language

Explanation:

Body language can show a lot of things about a person, if they are uncomfortable, nervous, comfortable, in a rush, and all sorts of things!

Audra recently earned her associate’s degree and is looking for a job. Her resume lists her strengths in a separate section. Some of these strengths are outlined below:

Strong math skills



Computer skills including spreadsheet programs



Attention to detail



Critical thinking skills



Background in economics





Which career is Audra best suited for?

Accountant
Data Entry
Marketing Manager
Auditing Clerk

Answers

Answer: D, Auditing Clerk.

Explanation:

             Edge 2020.

The auditing Clerk career is Audra's best suitable. Thus option A is correct.

What is a job?

Body of reporting, particularly a particular task carried out as part of one's daily duties or for a set fee. As a means of generating income and gaining access to a variety of crucial and – anti-goods, systems, and exercises, work plays.

Auditing clerks verify the correctness and proper coding of numbers, posts, and documents. They might rectify their own mistakes for little ones, such as transcribing mistakes. All the details and the things that are mentioned are related to the position of auditing Clerk.

They often alert senior staff, notably the accounting profession, in the event of significant inconsistencies. Therefore, option A is the correct option.

Learn more about the job, Here:

brainly.com/question/29802928

#SPJ2

Tell me ten different things a person would need a credit score for? WILL MARK BRAINLIEST DUE TODAY PLEASE HELP 50 POINTS

Answers

Buying a home, renting a car, credit card, bills, pulling out a loan, Renting a home , buying a car

A container when 3/8 full,holds 15 litres of oil.How many litres of oil would be needed to fill 5 similar containers?​

Answers

Answer:

200 litres of oil

Explanation:

When the container is 3/8 full, its holds 15 litres of oil.

i.e. 3/8 = 15 litres

the container need 8/8 or 1 to be full.

If 3/8 = 15 litres. or 0.375 = 15 litres

full container will be 15/0.375 x 1

=40 litres

To fill 5 such containers will requires

=40 litres x  5

=200 litres of oil

Answer:

I want brainliest lol

Explanation:

Why are slide presentations universal in business environments?
A. Because the software is free and easy to obtain
B. Because of their compatibility with media and sound
C. Because they are easy to use and can accommodate all varieties
of information
D. Because they are extremely easy to share with your friends and
family members
SUBMIT

Answers

The correct option is, (C)  because they are easy to use and can accommodate all varieties of information.

Which slide is best for presentation?

Here are a few presentation slide options to choose from based on what your topic material is:

Meeting Agenda Template. Company Goals Template.Company Overview Template. Project Status Report Template.Business Annual Report Template.Business Plan Template. Product Introduction Template.Product Presentation Template.

What are two main types of presentation?There are two basic types of presentations (or oral reports) that you will likely be called upon to deliver during your educational career and beyond informative presentations and persuasive presentations.

What are different methods of presentation?There are four basic methods (sometimes called styles) of presenting a speech: manuscript, memorized, extemporaneous, and impromptu. Each has a variety of uses in various forums of communication.

Learn more about  slide presentations universal here:

https://brainly.in/question/11725645

#SPJ2

State two reasons why people work

Answers

Answer:

earn money, make a change, fulfill their dreams

Explanation:

Money isn't the only reason why people work it's also for independence and have more control over their own life.

Explanation:

when you work you are also getting more skills and making more friends with people you have meet in you'r job.

neeeeed heeellllpppp!!!!!!!!!!!

Answers

Answer:

I'd say b

Explanation:

it's a fire hazard symbol. none of the other answers would make sense

Yah this b. It makes most sense

13. The markets for laundry detergents, soft drinks and automobiles are dominated by a few
sellers. Economists would classify these markets as examples of:
a. Monopolistic competition
b. Perfect competition
C. Oligopolies
d. Monopolies

Answers

Answer:

C. Oligopolies

Explanation:

Oligopoly is a market structure dominated by a few big firms sellers serving a large number of buyers. For example, the mobile phone business in the US is a big market buy is dominated by four to six service providers.  In the oligopoly market, the firms could be selling differentiated or identical products. Apart from the main dominating firms, they are other small companies operating in the industry, but their market share is small.

Other characteristics of an oligopoly include

Barriers to entry:  heavy capital required to enter the market is a barrier to many interested sellers. Heady advertising among the existing firmsThere is interdependence and cooperation between the few sellers.

List the elements of the implied warranty of merchantability and provide an example of a sale of goods that includes this warranty, and how it could be breached.

Answers

Answer:

Article 2 of the UCC code states that in order for goods to be merchantable (or fit for sale) they must:

should correspond to the contract description, e.g. a cereal box should contain cerealmust be of fair average quality, e.g. the cereal must be edible and be of a reasonable quality, like have a decent flavormust be fit to serve the purpose for which an average consumer might purchase them, e.g. you should be able to eat your cereal at breakfast, and it should not require hours or preparationthe quality of all the units included in the package must be similar, although slight variations are permitted, e.g. cornflakes should be of similar size and qualityare properly packaged and labeled, e.g. the package should not be broken and it should include relevant informationfulfill any promise contained in its package or labels, e.g. if the box says it contains cereal with raisins, it must contain cereal with raisins

There are lots of ways in which an implied warranty of merchantability is breached, e.g. if the cereal is spoiled, the box is broken and the contents are falling, cornflakes are all crushed and lost consistency, etc.

A text box with entry "My duties included reviewing purchasing trends, analyzing customer data, and preparing annual trend reports." What changes should be made to the above statement, located within a resume, to make it a more effective and powerful sounding qualification?

Answers

Answer:

text structure changes

Explanation:

What this entails is that the text is adjusted using words that show more confidence, and clarity of expression to the reader.

For example, the overall structure of the statement could be more effective and a powerful sounding qualification;

Because of my intense commitment to work, I was very successful in carrying out these responsiblities,

reviewing of purchasing trends,analysis of client data,prepared annual trend reports.

Answer:

Sample response:

The statement should not start with the word “my”. The qualification is not starting with a strong action verb. Example: Conducted extensive purchasing research; analyzed, diagrammed, and reported results of customer data; and wrote annual trend reports

Explanation:

Did the lesson.

State whether each of the following is an asset or a liability. a. Loan from Muthoot Finance b. Prepaid Insurance c. Amount owing to supplier d. Accrued wages​

Answers

Answer:

See below

Explanation:

Assets are items of value that belongs to a business or a person.  They are acquired through buying either on cash or credit. Assets can be inherited or received as presents. Assets are in the form of money, properties, or property rights

Liabilities are debts a business or person owes to third parties. They are unpaid obligations that should be settled when they become due or on-demand.

a. Loan from Muthoot Finance: Liability, money owed to Muthoot finance

b. Prepaid Insurance: Asset, Money paid for unused services.

c. Amount owing to a supplier: Liability, debt to the supplier

d. Accrued wages​ : Liability, Money owed to employees

is it hard to get a job at chik fil a? kinda stupid question ik, I just really need money. if so any recommendations? ​

Answers

Answer: Maybe you can try getting a job at starbucks, mcdonalds, five below, etc. It depends how old are you.

I’m not sure, I think chipotle would be a great option though. Working there comes with many benefits like paying some of your tuition (or something along those lines.)

Read the sentence.

Because of the presence of many _[blank]_, California is a leader in entrepreneurship and innovation.

Which best completes the sentence?

A)court battles
B)wealthy investors
C)hardships
D)frontier people

Answers

Answer:

D) frontier people

Answer:

the correct answer is  wealthy investors

Explanation:

I got a 100% on the test and answer D was icorrect the first time I took it.

In what areas do federal agencies regulate to ensure safety and the general
wellness of US citizens?

a. Businesses
b. Environment
c. Products
d. All of the above

Answers

Answer:

d. All of the above

Explanation:

Government regulations are the rules that players in an industry must abide by. In a free-market economy like the US, the government's main role is to regulate economic activities. The government enforces regulation through its various agencies.

The areas of regulations include but are not limited to

Protecting consumers from undue exploitation by businesses, Encourage fair business competition Promote a healthy, safe work environment for employees Promote and sustain a clean environmentPrivate data protection and security

ASAP PLEASE!

_______ is a system of related goods and integrated services are bundled together and sold in the place of independent and isolated items

Answers

Answer:

Systems Selling

Explanation:

which incident inspired Aaitaman?

Answers

Answer:

you can search either in Google or brainly and then you will have the answer

One day, he was going to school. He had to walk on the terrace of field.
He was walking on the terrace. He saw a small round insect carrying food
and climbing up the terrace. When the insect was about to reach the top
of terrace, it fell down. But the insect didn’t give up. It again tried to climb up. It was again about to reach the top, it again fell down as the first time. It
was still not discouraged So it tried for third attempt and was able to reach
the top carrying the food and it took into the hole where it used to live.
Though the incident was minor, it had a great impact on Aaitaman

Is cereal soup or no?

Answers

Answer:

no its a candy acid

Explanation:

I have a question. How do you deal with the pain, of knowing you cant date your crush, who you have liked for 1 and a half years, and knowing that her dad is the reason why. How should i deal with it cause i cant seem to get past it.

Answers

You should know that it isn’t your fault what her dad thinks about you. I’ve been through a similar experience and I’ve learned that it wasn’t my fault, or my doing of what there parents thought about me. If you really do like her, go and tell her. It’s her thoughts on you that matter =)

Answer:

don't worry about it because it is not your fault that her dad does not let you

Explanation:

hopefully he opens up about you

There is no gain in mechanical advantage in a single fixed pulley . explain why the pulley is then used​.

Answers

Explanation:

A single fixed pulley is used only to change the direction of the force applied that is with its use, the effort can be applied in a more conveninent direction. To raise a load directly upwards is difficult.

Dr. Peabody recorded an $82 telephone bill that he will pay within thirty days. Which of the following statements is correct?
A. Telephone expense is debited $82; accounts payable is credited $82.
B. Telephone expense is debited $82; cash is credited $82.
C. Telephone expense is debited $82; accounts payable is debited $82.
D. Telephone expense is credited $82; accounts payable is debited $82.

Answers

Answer:

A. Telephone expense is debited $82; accounts payable is credited $82.

Explanation:

Mr. Peabody has incurred a debt of $82 on telephone expenses. His expenses have increased by $82, and his debts(liabilities) have also increased by $82.

An increase in expenses is recorded by debiting the relevant expense account. Mr. Peabody will debit the telephone expense account by $82.

Liabilities have increased by $82. An increase in liabilities is recorded by crediting the liabilities account. Mr. Peabody will complete this transaction by crediting the liabilities account by $82.

any good business plan ideas
my business will be something to do with tie Dye

Answers

Answer:

nike socks for sure

Explanation:

Hoodies/Gloves would be amazing options.

Miguel is looking to own a small piece of several companies as an investment. He wants to take some of his extra cash and purchase shares of some technology companies. Which type of financial business will MOST LIKELY meet his needs?

Answers

Answer: C. Mutual fund company

Explanation:

Mutual Funds provide a way for small time investors to be able to invest in multiple companies and securities because they pool funds from all these small investors and buy shares, bonds, and other assets.

Miguel would simply have to buy shares in the Mutual fund company and then he would be entitled in an ownership stake in these assets invested in by the Mutual fund company in the proportion of his investment in the mutal fund company.  

Answer: mutual fund company

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