Recall the Application About the Costs Involved in Opening a Motel

question 152

Multiple Choice

Recall the Application about the costs involved in opening a motel to answer the following question(s) .
-Recall the Application. Which of the following prevents the motel industry from being classified as a monopoly?

• A) There are many motel chains in the industry.
• B) There are no patents or regulations that prevent entry. All an entrepreneur needs is to pay the franchise fee and the royalties.
• C) Motels are differentiated based on location and price.
• D) All of the above prevent the motel industry from being classified as a monopoly.