Business, 25.03.2020 02:46 Lizzy527663

The three main luxury hotels in a major tourist destination keep very close track of their competitors' room pricing, restaurant offerings, tour packages, and special services, such as airport transportation and spa privileges. When one hotel makes adjustments in prices or offerings, the other hotels follow suit. It is possible that these hotels are: Group of answer choices following a competitive response strategy. engaging in tacit collusion. monitoring business competitors for opportunistic behaviors. following uncertainty-reducing strategies.

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Answer from: tashanicole

Engaging in tacit collusion.

Explanation:

Tacit collision could be defined as when firms collide in operations, mode of services unplanned, this is as a result of competition. In this scenario, these companies monitor the activities of their competitors and carry out everything that works for their competitors verbatim so it could work for themselves too. These is seen in many industries; from hotels, to malls, oil servicing firms. Although it's a bad one for the originator of each idea and methods for their business, it's also good as it seems to maintain a good pricing for consumers, as the competitors carry out every thing to make one better than the other with great customer service.

Answer from: Quest

a progressive tax is a tax that imposes a lower tax rate on low-income earners compared to those with a higher income, making it based on the taxpayer's ability to pay. that means it takes a bigger percentage from high income earners than it does from low income people.

Answer from: Quest

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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