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When a there is an inelastic demand to a hospitality product ( i . e . , rooms ) , in general, Group of answer
When a there is an inelastic demand to a hospitality product ie rooms in general,
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A percentage change in price results in a larger percentage in quantity demanded
A change in price of a product will not affect total revenue levels
Revenue margins always decrease in spite of some decrease in the quantity demanded
A percentage change in price results in a smaller percentage in quantity demanded
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