question archive Explain why the following are examples of monopolistic competition
Explain why the following are examples of monopolistic competition
Subject:MarketingPrice:2.88 Bought3
Explain why the following are examples of monopolistic competition. There are number of fast food restaurants in town and they compete fiercely. Some restaurants prepare their hamburgers in open flames, others fry their hamburgers and in addition some serve boiled fish sandwiches, while others serve fried fish sandwiches. A few serve ice cream cones for dessert while other offer frozen ice cream pie.
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There are many fast food restaurants in the market, and there is stiff competition among these firms to win clients. Moreover, these firms are offering differentiated products. For instance, some restaurant sells fried fish sandwiches while others sell boiled fish sandwiches.
