question archive Question 13(a) Firms like Papa John’s, Domino’s, and Pizza Hut sell pizza and other products that are differentiated in nature
Question 13(a) Firms like Papa John’s, Domino’s, and Pizza Hut sell pizza and other products that are differentiated in nature
Subject:EconomicsPrice: Bought3
Question 13(a) Firms like Papa John’s, Domino’s, and Pizza Hut sell pizza and other products that are differentiated in nature. While numerous pizza chains exist in most locations, the differentiated nature of these firm’s products permits them to charge prices above marginal cost. Given these observations, is the pizza industry likely a monopoly, perfectly competitive, monopolistically competitive, or an oligopoly? Use the causal view of structure, conduct, and performance to explain the role of differentiation in the market for pizza. Then apply the feedback critique to the role of differentiation in the industry.(b) According to the five forces of the Porter’s model, the organization of an industry can be analyzed in terms of its structure, conduct and performance. Discuss(c) Is it always true that structure causes the conduct and thus performance of an industry? Is it possible for the reverse causation? Explain
