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What would the occupancy rate be

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Grand Paradise resort and casino in Las Vegas has 2500 rooms. The hotel man- agement knows from past experience that a room rate of $100 a night results in full occupancy. It is also known that a 10 % increase in rate leads to a 1 % decline in the occupancy rate. If demand is linear, what rate should the hotel charge to maximize revenue? What would the occupancy rate be?

Reference no: EM13877250

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