Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sox shogun hotel sold 2,000 rooms during the past

Sox Shogun Hotel sold 2,000 rooms during the past month at an ADR of $70.00....

70.2K

Verified Solution

Question

Accounting

Sox Shogun Hotel sold 2,000 rooms during the past month at an ADR of $70.00. During this month, the ADR is increased by $7.00 and the total number of rooms sold is 1,900. What is the price elasticity of demand? What is the effect of the decrease in the #of rooms to the total room revenue for the Sox Shogun Hotel during this month?

Group of answer choices

$5,600 decrease

$6,300 increase

$6,300 decrease

$5,600 increase

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Road engineering: Explain with diagrams, the concept of the major and minor drainage system approach.

Civil Engineering
Q

In the sports industry what types of questions could you ask and assess using linear regression?

Basic Math
Q

A segment of DNA which provides the instructions for making a protein is called a(n):plasmidchromosomegenemRNAnone...

Biology
Q

Why do some people want less federal power over state decisions Each state has different...

Biology
Q

Suppose you work in a call center You call people up and offer to sell...

Basic Math
Q

- Which of the following rules describesthe translation of point P(-5, -4) to pointP'(-8, -7)a....

Basic Math
Q

Evaluate the expression cos^-1(sin(4?/3))________________Give your answer as an exact value

Calculus
Q

A bicycle manufacturer produces two kinds of frames aluminum and carbon fiber The cost function...

Calculus
Q

Normal losses are credited to the process account at the cost per unit incurred on...

Accounting
Q

Also in connection with stockholders' equity, what do the following terms mean: authorized shares, issued...

Accounting
Q

On January 1,2024, Casey Corporation exchanged $3,262,000 cash for 100 percent of the outstanding voting...

Accounting
Q

Question 4 a) Journalize the following transactions b) Show the presentation of Bonds Payable in...

Accounting