Assume That You Own a Small Boutique Hotel

question 210

Multiple Choice

Assume that you own a small boutique hotel.In an attempt to raise revenue, you reduce your rates by 20 percent.However, your revenue falls.What does this indicate about the demand for your boutique hotel rooms?

• A)Boutique hotel rooms are inferior goods.
• B)Demand is inelastic.
• C)The demand curve for your hotel rooms is vertical.
• D)Demand is elastic.

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