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What is the price elasticity of demand

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Reference no: EM132537070

Question 1: Sox Shogun Hotel sold 2,000 rooms during the past month at an ADR of $70.00. During this month, the ADR is increased by $7.00 and the total number of rooms sold is 1,900. What is the price elasticity of demand? What is the effect of the decrease in the #of rooms to the total room revenue for the Sox Shogun Hotel during this month?

Reference no: EM132537070

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