If average household income increases by 50%, from $40,000 to $60,000 per year, the quantity of rooms demanded at the triple sevens from rooms per night to rooms per night. therefore, the income elasticity of demand is , meaning that hotel rooms at the triple sevens are . if the price of a room at the exhilaration were to decrease by 20%, from $200 to $160, while all other demand factors remain at their initial values, the quantity of rooms demanded at the triple sevens from rooms per night to rooms per night. because the cross-price elasticity of demand is , hotel rooms at the triple sevens and hotel rooms at the exhilaration are . triple sevens is debating decreasing the price of its rooms to $175 per night. under the initial demand conditions, you can see that this would cause its total revenue to . decreasing the price will always have this effect on revenue when triple sevens is operating on the portion of its demand curve.

Drag the tiles to the correct boxes to complete the pairs. match the scenarios with terms related to financial aid. entrance counseling fafsa financial need megan is planning to pursue an undergraduate degree in chemistry. but since her father lost his job five years ago, the family had been unable to save up enough for megan's education. arrowright kunal recently learned that he is going to receive a student loan. now he needs to attend a session in which he will learn the how the loan process works, as well as his responsibilities as a borrower. arrowright josie created an fsa id and completed a long application form online. the form asked for a lot of financial details about josie and her family. arrowright

P8-4b dropping unfavorable division based on the following analysis of last year's operations of groves, inc., a financial vice president of the company believes that the firm's total net income could be increased by $160,000 if its design division were discontinued. (amounts are given in the thousands of dollars.) required provide answers for each of the following independent situations: a. assuming that total fixed costs and expenses would not be affected by discontinuing the design division, prepare an analysis showing why you agree or disagree with the vice president. b. assume that the discontinuance of the design division will enable the company to avoid 30% of the fixed portion of cost of services and 40% of the fixed operating expenses allocated to the design division. calculate the resulting effect on net income. c. assume that in addition to the cost avoidance in requirement (b), the capacity released by discontinuance of the design division can be used to provide 6,000 new services that would have a variable cost per service of $60 and would require additional fixed costs totaling $68,000. at what unit price must the new service be sold if groves is to increase its total net income by $180,000?

In two or three sentences describe how open market