A hotel rents rooms to customers by the night. The hotel determines that if it sets the price of the room to be $160 per night, 145 rooms will be rented. In order to rent 195 rooms, it must lower the price to $110 per night. If the hotel sets the price to be $110 per night, what is the marginal revenue? The marginal revenue is $ per room. (Round answer to nearest dollar. If more than one answer, separate with a comma.)

A hotel rents rooms to customers by the night. The hotel determines that if it sets the price of the room to be $160 per night, 145 rooms will be rented. In order to rent 195 rooms, it must lower the price to $110 per night. If the hotel sets the price to be $110 per night, what is the marginal revenue? The marginal revenue is $ per room. (Round answer to nearest dollar. If more than one answer, separate with a comma.)

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter5: Supply, Demand, And Price: Applications

Section: Chapter Questions

Problem 14QP

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