Hotels in New York City Frequently Experience an Average Vacancy

question 625

Multiple Choice

Hotels in New York City frequently experience an average vacancy rate of about 20 percent (i.e., on an average night, 80 percent of the hotel rooms are full) . This kind of excess capacity is indicative of what kind of market?

• A)monopoly
• B)perfect competition
• C)monopolistic competition
• D)oligopoly

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