430 Chapter 8 so d menu prices by an average of $ .50 per item. During the first 30 days of July, the average Cover charge was $9.25 for the 2,900 patrons who were served dinner. oi w Required: ् baworod abno 1. Compute the price elasticity of demand. 2. How is demand characterized based on your calculations? thorleinnr ono boteno Problem 11 debe The 100-room O'Dea Hotel experienced a 60 percent paid occupancy and a rack rate of $120 for 20X3. The hotel has four market segments. The percentage of room nights and the percentage of rack rate for each segment are as follows: nemppton Rack Rate Percentage of Rooms Sold u40% Percentage Business transient 100% 1Bog moortoM Group Tourist Comv20 30 Brcenoppra 80 onun or.onauA g beiccup ck b Government 10 70 food ben Required: boniups! bosiuperods onimoo Amily style rsh st.damh od.00 1. What is the average room rate per market segment? 2. What are the total sales for the year by market segment? Iduobans bloa

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.