There are many restaurants in a city, each one offering food and services that differ from those of its competitors. There is al

Question

3 years ago

7

There are many restaurants in a city, each one offering food and services that differ from those of its competitors. There is al

so free entry of sellers into the market, and each seller serves a very small fraction of the total number of meals served each day. The restaurant industry in Raleigh is best categorized as:

Social Studies

1 answer:

Kobotan [32] · Answer 1 · 2022-07-08T18:15:42+03:00

Kobotan [32]3 years ago

3 0

Answer: monopolistically competitve

Explanation:

Yes they are competitive, but taking into cognisance that they offer differing services and there is a level of uniqueness with each restaurant , so there is a monopolistic competition between them.