question archive A chain of coffee shops has gained a large market share in a big city because customers feel its coffee tastes better than its competitors' coffee

A chain of coffee shops has gained a large market share in a big city because customers feel its coffee tastes better than its competitors' coffee

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A chain of coffee shops has gained a large market share in a big city because customers feel its coffee tastes better than its competitors' coffee.

Number of firms?

a) one

b) few

c) many

Type of product?

a) unique

b) identical

c) differentiated

d) anything

Entry?

a) Easy

b) Challenging

c) Impossible

Market model?

a) monopoly

b) monopolistic competition

c) perfect competition

d) oligopoly

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