Suppose You Are Managing a 100 Room Hotel That Has

question 197

Multiple Choice

Suppose you are managing a 100 room hotel that has 5 empty rooms for tonight. The cost of operating your 100 room hotel for a night is $10,000 and the average cost is $100 per room. If the marginal cost of operating one room for one night is $30 and a customer is willing to pay $50 for the night, you should

• A)​rent the room because the marginal benefit exceeds the marginal cost.
• B)​rent the room because the marginal benefit exceeds the average cost.
• C)​not rent the room because the marginal benefit is less than the marginal cost.
• D)​not rent the room because the marginal benefit is less than the average cost.

Distinguish between different types of validity and reliability in the context of intelligence tests.

Identify the factors influencing prenatal and infant intelligence.

Analyze the relationship between schooling and intelligence.

Appreciate the complexity of measuring intelligence across diverse populations and the potential for biases.

---

Definitions:

Vision

A forward-looking statement or concept that outlines what an organization or individual aspires to achieve in the future.

Detailed

Providing an in-depth and thorough description or account of a specific subject or topic.

Create New Knowledge

The process of generating novel ideas, concepts, or understandings that were not previously known.

Remain Competitive

To remain competitive refers to the ongoing effort of businesses or individuals to stay ahead or on par with rivals in their field, through innovation, efficiency, or quality enhancement.