A fast-food restaurant decides to raise the price of its hamburgers. assume the firm is in a monopolistically competitive indus

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tensa zangetsu [6.8K]

3 years ago

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A fast-food restaurant decides to raise the price of its hamburgers. assume the firm is in a monopolistically competitive indus

try. what will happen to the demand for its hamburgers? when the fast-food restaurant raises the price of hamburgers,

Business

1 answer:

Lena [83] · Answer 1 · 2022-05-06T15:09:02+03:00

<span>A fast-food restaurant decides to raise the price of its hamburgers. assume the firm is in a monopolistically competitive industry. what will happen to the demand for its hamburgers? When the fast-food restaurant raises the price of hamburgers, some customers may stay and pay the higher price because they want that specific brand of hamburgers, other may go elsewhere to find them cheaper.

When prices raise, some customers stay because they are attached to that specific company, others leave because they want a burger but for a lower price.
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A​ fast-food restaurant decides to raise the price of its hamburgers. assume the firm is in a monopolistically competitive indus

A fast-food restaurant decides to raise the price of its hamburgers. assume the firm is in a monopolistically competitive indus