Question 1 (1 point) Saved Room rate economics recognizes that, when the supply of hotel rooms is held constant, an increase in demand for those rooms will result in an increase in their selling price. True False Question 2 (1 point) A rack rate is the price at which a hotel sells its rooms to its best corporate customers. True False Question 3 (1 point) The point of using the Hubbart Room Rate Formula is to predict rooms revenue, and subsequently, ADR. True False