Hotels in Sydney Observe That on Most Nights, About 80

question 198

Multiple Choice

Hotels in Sydney observe that on most nights, about 80 per cent of their rooms are occupied, with the remainder being empty.This kind of excess capacity is indicative of what kind of market?

• A)tourist markets
• B)competitive
• C)oligopoly
• D)monopolistically competitive

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Definitions:

If-Then Statement

A conditional statement in logic and programming that connects an action or response to a preceding condition.

Stereotype Threat

The risk of conforming to stereotypes about one's social group, which can negatively affect performance in various domains.

Cognitive Miser

A theoretical concept suggesting that humans prefer to take mental shortcuts for decision-making to conserve cognitive energy.

Demand Characteristics

Aspects of a study that give away its purpose or communicate how the participant is expected to behave.