(solved)on the declining portion of its averagetotalcost curve. Hotels in New York City frequently experience an average vacancy rate of about 20 percent (i….. . . . .

D. on the declining portion of its averagetotalcost curve. 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 kind of excess capacity is indicative of what kind of market? A. monopoly b. perfect competition c. monopolistic competition d. oligopoly For profitmaximizing firms in a monopolistically competitive market, another customer means a. no change in profit. B. more profit. C. potential economic losses. D. marginal cost could potentially exceed price.

Expert Answer


Answer to on the declining portion of its averagetotalcost curve. Hotels in New York City frequently experience an average vacancy rate of about 20 percent (i…. . . .

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