# according to an article in the wall street journal, unlike airlines, even elite hotels don't have sophisticated systems that can react quickly to changes in demand. even if they could, many hoteliers say people don't respond that much to lower rates. 'We've tested this, cutting our rates by $50 per night, and we didn't see an appreciable response in occupancy,' says Jim, a vice president for Ritz....based on the information above the demand for hotel rooms a. is income elastic b. is income inelastic c. is price elastic d. is price inelastic At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat. ## A community for students. # according to an article in the wall street journal, unlike airlines, even elite hotels don't have sophisticated systems that can react quickly to changes in demand. even if they could, many hoteliers say people don't respond that much to lower rates. 'We've tested this, cutting our rates by$50 per night, and we didn't see an appreciable response in occupancy,' says Jim, a vice president for Ritz....based on the information above the demand for hotel rooms a. is income elastic b. is income inelastic c. is price elastic d. is price inelastic

Economics - Financial Markets