Which Is Not a Form of Supplementary Service for a Luxury

question 31

Multiple Choice

Which is not a form of supplementary service for a luxury hotel?

• A)Room service
• B)Reservation
• C)Check-in/Check-out
• D) Scheduling

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Definitions:

Income Elasticity

A measure of how much the demand for a product or service changes with a change in the consumer's income.

Quantity Demanded

Quantity demanded is the total amount of goods or services that consumers are willing and able to purchase at a given price point, during a specified period.

Consumption

The expenditure by individuals on durable goods, nondurable goods, and services; represented by C.

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in its price.