You are planning a summer vacation and are about to book a hotel room online for $149
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You are planning a summer vacation and are about to book a hotel room online for $149 a night. However, when you get to the reservation screen, you are informed that you will be charged an additional $30 a night in various taxes that you have to pay to the hotel. Between you and the hotel, who do you think is carrying the larger share of the economic burden of the taxes? What ultimately determines whether you or the hotel bear the majority of the economic burden?
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Determining whether you or the hotel bears the majority of the economic burden of the taxes depends on the elasticity of demand for hotel rooms If dem...View the full answer
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