Asked by Anthony Espino on Jun 24, 2024
Verified
Use your basic knowledge and your understanding of market structures to answer this question. Which of the following companies most closely approximates a monopolistic competitor?
A) Subway Sandwiches
B) Pittsburgh Plate Glass
C) Ford Motor Company
D) Microsoft
Monopolistic Competitor
A type of market structure characterized by many firms selling products that are similar but not identical, allowing for some degree of market power.
- Identify examples of industries that reflect characteristics of monopolistic competition.
Verified Answer
OR
Owais RehmanJun 29, 2024
Final Answer :
A
Explanation :
Subway Sandwiches is the best example of a monopolistic competitor because it operates in a market with many sellers that offer similar but not identical products. In the case of Subway, it competes with numerous other fast-food and sandwich shops, each offering a differentiated product through unique recipes, branding, and customer experience.
Learning Objectives
- Identify examples of industries that reflect characteristics of monopolistic competition.
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