Recall the Application About the Costs Involved in Opening a Motel

question 372

Multiple Choice

Recall the Application about the costs involved in opening a motel to answer the following question(s) .
-Recall the Application. If you spend the money to buy an Accor franchise (the owner of the Motel 6 brand) and it is in a monopolistically competitive market, you would expect in the long run to earn zero economic profits because

• A) barriers to entering the motel business are relatively low.
• B) you must compete against other motels and hotels.
• C) franchise fees make sellers of brand names have higher costs than other sellers.
• D) all of the above.

---

Definitions:

Letters of Reference

Written recommendations from a credible source that attest to an individual's qualifications, character, and abilities.

Belief Perseverance

The tendency to maintain one's belief even after it has been discredited by new evidence.

Additional Evidence

Supplementary information or data that supports or clarifies an argument, claim, or hypothesis.

Belief Perseverance

A cognitive phenomenon where individuals stick to their initial beliefs even when faced with new, contradictory evidence.