Fast food monopolies?
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Fast Food Industry: Go to http://www.mcdonalds.com/, http://www.bk.com/ and http://www.wendys.com/. Are these three firms participating in a monopolistically competitive market? What characteristics of the good make the market monopolistically competitive? Explain.
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Solution Summary
A short discussion on whether the big three fast food organizations are monopolistic.
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In my opinion no they are not. A good that is marketed monopolitically is one that is difficult to produce or costly and has limited ways to do it or make it. Few companies are willing to invest in the equipment and capital to create the product to sell. Power companies are monopolies. Hamburger chains are not. This is because there are many ways ...
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