1. Kerry Phillips is forecasting sales of her 100-room limited-service Phillips Inn. She forecasts by market segment. The most recent year's (20X3) percentage of rooms sold and average daily room rate (ADR) by market segment were in the Excel:

Segment Percentage of Rooms Sold ADR
Business 40% S85.00
Group 10% 75.00
Turint 50% 90.00

On an average day, her Inn experiences a 75% occupancy. With considerable advertising she believes she can achieve an occupancy of 80%. Further, she believes she can increase the tourist segment up to 55% at the expense of the business segment. In addition, she projects ADR increases of 5%.

Forecast the room revenue for January 20X4.

1. which one of the following would be an example of a supply-side market failure? a. a gas station is slowly leaking diesel fuel from its underground tanks, and after the leak is discovered, the business immediately cleans up the pollution at its own expense. b. a gas station is slowly leaking diesel fuel from its underground tanks, but the state uses taxpayer money to clean up the pollution rather than requiring the business to pay. c. your business wants to attract repeat customers by putting on a customer-appreciation picnic at a public park, but you decide not to because you couldn't prevent noncustomers from consuming the food and entertainment you provided. d. everyone rushes to the local retail outlet at midnight on the day of the release of a new video game console, and the store runs out before everyone is able to buy one.