1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
MArishka [77]
3 years ago
5

In the restaurant industry, a large number of restaurants cater to similar customer needs. However, each restaurant makes its pr

oduct unique by offering a different cuisine, a different ambience, organic ingredients, or different services like home delivery. This differentiation allows each restaurant to set its own prices. Thus, the restaurant industry best illustrates a(n)a. perfectly competitive structure.b. monopolistically competitive structure.c. monogopoly.d. oligopoly.
Business
1 answer:
netineya [11]3 years ago
6 0

Answer: Option B

Explanation: Monopolistically competitive structure refers to a market structure depicting a combination of monopoly and perfect competition. In such markets there are large number of small sellers but due to minor differences in product, different firms can charge different prices.

In the given case, also different restaurants are charging different prices due to their different service offerings.

Thus, from the above we can conclude that the restaurant best illustrates monopolistically competitive structure.

You might be interested in
Sales to customers who use bank credit cards such as mastercard and visa are usually recorded by:a. Debit to Cash and a credit t
algol13

Answer:

c. Debit to Bank Credit Card Sales, debit to Credit Card Expense, and a credit to Sales

Explanation:

The journal entry is shown below:

Bank credit card sales A/c Dr XXXXX

Credit card expense A/c Dr XXXXX

       To Sales A/c XXXXX

(Being the sales is recorded via bank credit cards)

As the credit card has some expense so we debited the credit card expense along with the bank credit card sales and credited the sales as it is revenue which is to be credited

4 0
4 years ago
If you case a car accident, which type of insurance will require you to pay the least out of pocket?
maria [59]
Uninsured motorists. Make sure you have it.
7 0
3 years ago
What is the price​ level? The price level is​ ______. A. the average level of prices paid by urban consumers for all goods exclu
8_murik_8 [283]

Answer:

Price Level is B. The average level of prices

Explanation:

Price level is the average of current prices across the entire spectrum of goods and services produced in the economy.

Price level refers to the price or cost of a good, service, or security in the economy.

Reference: Kenton, Will. “Reading Into Price Levels.” Investopedia, Investopedia, 27 Sept. 2019

7 0
3 years ago
When a buyer’s willingness to pay for a good is equal to the price of the good, the?
viktelen [127]
Measures the value that a buyer places on a good
7 0
3 years ago
​Sustainable businesses tend to be run by CEOs who are:
Marianna [84]
The answer is Target-driven<span>
</span>
8 0
4 years ago
Other questions:
  • produces sports socks. The company has fixed expenses of $ 75 comma 000$75,000 and variable expenses of $ 0.75$0.75 per package.
    6·1 answer
  • What is an advantage of selling consumable items
    12·2 answers
  • The ruhr valley is important to the economy of germany because it ____.
    6·1 answer
  • The valuation you have of yourself is known as
    9·2 answers
  • Financial statement data at December 31 for Ecco Company are shown below. Cost of merchandise sold $552,500 Inventories: Beginni
    11·1 answer
  • For each of the following errors, considered individually, indicate whether the error would cause the adjusted trial balance tot
    14·1 answer
  • BreeTek is a cybersecurity company. The company has set up offices in all the major countries in the world. Software developers
    6·1 answer
  • A new truck is purchased on January 1, 20X6. The truck cost $10,000, has a 5-year life, and a $2,000 residual value. Given a Dec
    15·1 answer
  • Dye Trucking raised $240 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $7. If Dye h
    5·1 answer
  • which type of retailer is most likely to require its employees to focus most on assisting customers as they shop?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!