Multiple Choice
Recall the Application about the costs involved in opening a motel to answer the following question(s) .
-Recall the Application. Which of the following prevents the motel industry from being classified as a monopoly?
A) There are many motel chains in the industry.
B) There are no patents or regulations that prevent entry. All an entrepreneur needs is to pay the franchise fee and the royalties.
C) Motels are differentiated based on location and price.
D) All of the above prevent the motel industry from being classified as a monopoly.
Correct Answer:
Verified
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