In the Short Run,the Quantity of Available Hotel Rooms Is

question 29

Multiple Choice

In the short run,the quantity of available hotel rooms is not particularly responsive to changes in price because hotels take time to build and to destroy.This implies that the short-run supply of hotel rooms is

• A) elastic.
• B) inelastic.
• C) in equilibrium.
• D) greater than demand.

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Definitions:

Cognitive Therapy

A type of psychotherapy that aims to change negative patterns of thinking to alter unwanted behavior patterns or treat mood disorders.

Blaming Themselves

The tendency of individuals to attribute personal failures or negative events to their own actions or faults.

Negative Circumstances

Situations or conditions that adversely affect an individual's mental, physical, or emotional well-being.

Token Economy

A behavioral modification method involving the systematic reinforcement of target behavior through the use of tokens that can be exchanged for desired items or privileges.