1) Calculate price elasticity of demand when price falls from TK400 to TK250 a night

2) What happens to total revenue when price falls from $250 to $200 per night

3) Is the demand for hotel rooms' elastic, inelastic or unit elastic?

7. The demand schedule for hotel rooms at Gulf Port, Alabama is: Price ($/ night) 200 250 400 500 800 Quantity demanded (roomsight) 100 80 50 4O 25 U) (ii) (iii) Calculate price elasticity of demand when price falls from TK400 to TK250 a night What happens to total revenue when price falls from $250 to $200 per night Is the demand for hotel rooms' elastic, inelastic or unit elastic