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madam [21]
3 years ago
9

Joe Santos owns the only pizza parlor in a small town that is also home to a McDonald's, a Taco Bell, and a Kentucky Fried Chick

en. Using a broad definition of a monopoly, Joe has a monopoly if the menu items sold at the other restaurants are not considered close substitutes for the food sold at the pizza parlor.
1) True
2) False
Business
1 answer:
astra-53 [7]3 years ago
5 0

Answer:

True

Explanation:

A more precise way to describe the situation is that Joe's pizza parlor is a monopolistic competition. But that definition considers that all 'food' items have some degree of close substitute relation.

But yes, if you consider this two conditions:

  1. a broad definition of monopoly
  2. other restaurants are not considered close substitutes for the food sold at the pizza parlor

Then yes, Joe has monopoly

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Answer:

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Which of the following statements is true? (A) A test with a high cost may also be high value. (B) A test with a low cost is alw
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Answer:

A) A test with a high cost may also be of high value.

Explanation:

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How are manufacturers trying to reverse or counteract the negative environmental impacts of manufacturing? (Select all that appl
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