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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.

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Kyg instruments, a firm that produces manufacturing equipment for various industries, experiences an influx of new sales employe
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3 years ago
In capitalism what is pure competition?
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5 0
2 years ago
The minimum level of education required for a roofer is: Master’s degree Bachelor’s degree Associates degree No formal education
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Answer:

No formal education required

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In many countries, the roofer works with a license. But to be a roofer, you don't need any formal education.

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7 0
3 years ago
Read 2 more answers
The Nelson Company's radio division currently is purchasing transistors from the Charlotte Co. for $3.50 each. The total number
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Answer:

The correct answer is C.

Explanation:

Giving the following information:

The Nelson Company's radio division currently is purchasing transistors from the Charlotte Co. for $3.50 each. The total number of transistors needed is 8,000 per month. Nelson Company's electronics division can produce the transistors for a cost of $4.00 each and they have plenty of capacity to manufacture the units. The $4 is made up of $3.25 in variable costs, and $0.75 in allocated fixed costs.

Because there is unused capacity, we will not have into account the fixed costs.

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It is more convenient to produce in house. The indifference price is $3.50.

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3 years ago
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