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Author Question: The fast food industry is NOT considered perfectly competitive because (Read 62 times)

luvbio

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on: May 25, 2020

Question 1

In which forms of market structure can new firms freely enter the​? industry?
◦ Perfect competition only
◦ All except perfect competition
◦ Perfect competition and monopolistic competition
◦ Perfect competition and certain oligopolies​ (e.g. sugar, regular unleaded​ petrol, cement)

Question 2

The fast food industry is NOT considered perfectly competitive because
◦ there are very many firms.
◦ entry and exit are strictly regulated by the government.
◦ the firms' products are differentiated.
◦ the firms all produce an identical product.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by luvbio on May 25, 2020

ktidd

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Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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luvbio

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Reply 2 on: May 25, 2020
YES! Correct, THANKS for helping me on my review

FergA

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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