If the Total Rooms Occupied Are 622 and the Total

question 2

Short Answer

If the total rooms occupied are 622 and the total rooms available are 850, then the room occupancy percentage is:
• 85%
• 60.5%
• 70%
• 73.2%

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Definitions:

Parallel Pricing

A situation where competitors in the market set their prices at a similar level without explicit agreement, often as an anti-competitive practice.

Minimum Price

A stipulated or regulated lowest price that can be charged for goods or services.

Sherman Act

An essential United States antitrust regulation that forbids monopolistic actions and fosters a competitive environment.

Price-fixing

Price-fixing is an illegal agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand.