Business, 26.10.2021 01:00 lashondrascott

The Wave Hotel offers luxury suites on Cocoa Beach. It has 200 beachfront suites. At the current price of $300 per night for each suite, it is fully occupied. A recent marketing study indicates that for every $10 increase in price, 5 fewer suites will be booked. (For example, if the price is $310, then 195 suites are booked. If the price is $320, then 190 suites are booked.) The marketing group recommends that the Wave Hotel charge $300 per night for each suite to maximize the revenue.
Did the marketing group make a correct recommendation?

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The Wave Hotel offers luxury suites on Cocoa Beach. It has 200 beachfront suites. At the current pri...