Rack Rate Is

question 5

Multiple Choice

Rack rate is

• A)the highest published room rate
• B)the price a room is sold for
• C)revenue management
• D)discounted room rates

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Definitions:

Deadweight Loss

A loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved or is unobtainable.

Producer Surplus

The difference between the amount that producers are willing to accept for a good or service and the actual amount they receive.

Wireless Mouse Market

The industry segment that deals with the production, distribution, and sale of wireless mouse devices.

Equilibrium

A state in which market supply and demand balance each other, and as a result, prices become stable.