Which Service Gap Is the Hotel Arista Trying to Address

question 20

Multiple Choice

Which service gap is the Hotel Arista trying to address when it takes time and spends up to $1,700 to train a new employee?

• A)standards gap
• B)knowledge gap
• C)performance gap
• D)communication gap
• E)recovery gap

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Definitions:

Oligopoly

A market structure characterized by a small number of firms controlling a large portion of the market share, often leading to limited competition.

Monopolistic Competition

A market structure characterized by many firms offering products that are similar but not identical, leading to competition based on quality, price, and marketing.

Long-Run Cost Curve

A graph showing the lowest cost at which a firm can produce any given level of output in the long run, when all factors of production are variable.