Which of the Following Hotel Customers Has the Most Inelastic

question 34

Multiple Choice

Which of the following hotel customers has the most inelastic demand slope?

• A)Business travelers in high season.
• B)Business travelers in low season.
• C)Tourists in high season.
• D)Tourists in low season.
• E)All groups have equivalent demand curves.

Understand the basic principles of demand, including the law of demand and factors that cause a shift in the demand curve.

Comprehend the basic principles of supply, including the law of supply and factors that contribute to a shift in the supply curve.

Identify different types of economic systems and their characteristics.

Grasp the concept of market equilibrium and how prices are determined in the market.

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