the city complained about the la? Assume a large sporting event was held in Melbourne and that many visitors to the
city complained about the lack of hotel accommodation. We could conclude from
this empirical evidence that
A) On an average, hotel-room tariffs were above the market clearing rental.
B) The market for hotel accommodation was in equilibrium.
C) Hotel room tariffs were unreasonably high.
D) On an average, hotel-room tariffs were beneath the market clearing rental.
city complained about the lack of hotel accommodation. We could conclude from
this empirical evidence that
A) On an average, hotel-room tariffs were above the market clearing rental.
B) The market for hotel accommodation was in equilibrium.
C) Hotel room tariffs were unreasonably high.
D) On an average, hotel-room tariffs were beneath the market clearing rental.