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Ilya [14]
3 years ago
11

The reason that the "fast-casual" restaurant market is monopolistically competitive rather than perfectly competitive is because

Business
2 answers:
maksim [4K]3 years ago
5 0
<span>A market which is monopolistically competetive has an imperfect competition and characterized with many producers that sell products that are differentiated from one another. Because of this there are not perfect substitutes.</span><span>
So, the reason that the "fast-casual" restaurant market is monopolistically competitive rather than perfectly competitive is because </span>products are differentiated.
lord [1]3 years ago
5 0

<u>The reason that the “fast-casual” restaurant market is monopolistic competitive rather than perfectly competitive because the products are differentiated. </u>

Further Explanation:

Fast-casual restaurant:

The fast-casual restaurant is a type of restaurant that advertises the good quality food and has a product differentiated. It is midway between fast food and casual dining. This type of restaurant does not provide full table service. They are just offering good quality food and have low processed ingredients.

Monopolistic competitive:

A competitive refers to a type of competition in the market, in which only one seller sells the product in the market. In this type of competition, the product is differentiated. That's why the seller sells the product in the market at higher prices and earns a maximum profit.

Perfectly competitive:

Perfectly competitive is a type of competition in the market, in which there is no barrier to entry and exit in the market. The product is homogenous, and all the sellers reap the same amount of profit. In a long period, there is no profit.

Monopolistic competition is the reason behind the fast-casual restaurant considered as a monopolistically competitive rather than perfectly competitive market.

Learn more:

1. Learn more about monopolistic competition

<u>brainly.com/question/7103791 </u>

2. Learn more about a competitive market

<u>brainly.com/question/11095403 </u>

3. Learn more about cartel

<u>brainly.com/question/1619397 </u>

Answer details:

Grade: Middle School

Subject: Economics

Chapter: Competitive market

Keywords: fast-casual restaurant, monopolistically competitive, rather than a perfectly competitive market, product, differentiated, fast food,casual dining.

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Darby's correct response is $0.045 per share.
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D) is 20% above expectations.

Explanation:

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3 years ago
Budgeted performance is a better criterion than past performance for judging​ managers." do you​ agree? why?
eimsori [14]
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3 0
3 years ago
Red when choosing a form of ownership
siniylev [52]

Answer:

see below

Explanation:

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4 0
2 years ago
If the Central Bank of Macroland puts an additional 1,000 dollars of currency into the economy, the public deposits all currency
FromTheMoon [43]

Answer:

a. 9,000; 10,000

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The computation is shown below:

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4 0
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