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Calculate the elasticity of demand

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Reference no: EM132524139

Question 1: Calculate the elasticity of demand based on the following hotel's rate and demand information and state your recommendations with the result. Please show all work.

Rate 1 - $120 Demand 1 - 200;

Rate 2 - $145 Demand 2 - 165

Question 2: Calculate the elasticity of demand based on the following hotel's rate and demand information and state your recommendations with the result. Please show all work.

Rate 1 - $175 Demand 1 - 210;

Rate 2 - $201 Demand 2 - 185

Reference no: EM132524139

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