A Hotel Finds That If It Spends No Money on Renovations

question 102

Multiple Choice

A hotel finds that if it spends no money on renovations they will be able to rent 145 rooms per night. However they have found that for every $3500 spent on renovations they will be able to rent an additional 25 rooms per night. Let x represent the amount of money spent on renovations and y represent the number of rooms rented. How much money will need to be spent on renovations in order to rent 400 rooms per night?

• A) $87500
• B) $1400000
• C) $76300
• D) $35700
• E) $56000

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Definitions:

Equilibrium Price

The price at which the quantity of a product offered is equal to the quantity of the product in demand.

Record-Keeping System

A method or system used for creating, maintaining, and managing records or documents for efficient and systematic storage and retrieval.

Job-Search Activities

Actions undertaken by individuals seeking employment, including networking, applying for jobs, attending interviews, and participating in job fairs.

Networking

The act of interacting with others to exchange information and develop professional or social contacts.