French Quarter Inns drops the price of a suite from 125 to 95 per night and experiences a reduction in the quantity of rooms demanded of an average of five per night This is an indication that suit?

The drop in the price of the suite from $125 to $95, coupled with a reduction in the quantity of rooms demanded by an average of five per night, suggests that the suite may be experiencing a decrease in perceived value or demand elasticity. This could indicate that customers expect higher quality or amenities at that price point, leading them to reconsider their choice. It may also reflect market dynamics where a lower price does not necessarily attract more guests, possibly due to increased competition or changing customer preferences.