One reason why the fast-casual restaurant market is competitive is that
A) consumption takes place in public.
B) demand for fast -casual food is very high.
C) it is trendy and therefore is likely to have a customer following.
D) barriers to entry are low.
Question 2
Carolyn spends her income on popular magazines and music CDs. If the price of a CD is four times the price of a magazine and if Carolyn is maximizing her utility, she buys
A) four times as many CDs as magazines.
B) both goods until the marginal utility of the last magazine purchased is four times the marginal utility of the last CD purchased.
C) both goods until the marginal utility of the last CD purchased is four times the marginal utility of the last magazine purchased.
D) four times as many magazines as CDs.
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