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.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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