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Calculate the elasticity of demand

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Reference no: EM132795280

Problem 1: Calculate the elasticity of demand based on the following infomation

  • Suppose a hotel sold 2500 room nights during the past month at the average rate of 80$. When the hotel increased the price from 80$ to 85$, the demand decreased to 2,300 rooms.

Reference no: EM132795280

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