Hotels in New York City Frequently Experience an Average Vacancy

question 154

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 their rooms are full) .This excess capacity is indicative of a(n) ____ industry.

• A) perfectly competitive
• B) monopoly
• C) monopolistically competitive
• D) oligopoly

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Definitions:

Emotional Labor

The process of managing feelings and expressions to fulfill the emotional requirements of a job, often in service-oriented professions.

Emotional Display Rules

Cultural guidelines that dictate how and when emotions should be expressed in various social situations.

Customer Service

The aid and backing offered by a business to individuals who purchase or utilize its products or services.

Feelings Dimension

An aspect of emotional experience that involves the subjective quality of emotions, ranging from positive to negative sensations.