Suppose That on a Saturday Night at 10 Pm, a Large

question 149

Essay

Suppose that on a Saturday night at 10 pm, a large hotel has 300 vacant rooms, with little expectation of renting them at such a late hour on a weekend.A traveler comes in the door, looking a bit down on his luck, and asks how much a room will cost.Since he can't afford the normal rate of $150, the night manager decides to let him stay in the room for only $40.Is it likely that this decision reduced, or increased, the hotel's profits? Explain your answer.

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Definitions:

Time

The ongoing and unending sequence of occurrences and existence across the past, present, and future, viewed collectively.

Sensitization

The process in which a repeated exposure to a stimulus results in an increased response to that stimulus over time.

Habituation

The process of becoming accustomed to a stimulus after repeated exposure, leading to a decrease in responsiveness.

Habituation

The act of an organism diminishing or ending its responses to a repeated stimulus through time.