Explore BrainMass
Share

Explore BrainMass

    Market characteristics for a pizza franchise

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Please help answer the following problems.

    Imagine that you have recently purchased a franchise pizza restaurant.

    1. In what type of market do you think your franchise operates (perfectly competitive, monopoly, monopolistically competitive, oligopoly)? What are the specific characteristics that make it this type of firm?

    2. What type of competition does your firm face? Who are some competitors?

    3. How do you think your firm can increase its market power?

    © BrainMass Inc. brainmass.com October 10, 2019, 6:08 am ad1c9bdddf
    https://brainmass.com/economics/monopolies/market-characteristics-for-a-pizza-franchise-530699

    Solution Preview

    1. In what type of market do you think your franchise operates (perfectly competitive, monopoly, monopolistically competitive, oligopoly)? What are the specific characteristics that make it this type of firm?

    A pizza restaurant is a monopolistic competitor. The characteristics of a monopolistically competitive market are:
    - Large number of sellers. Even if yours is the ...

    Solution Summary

    This solution answers questions about the type of market that a pizza franchise restaurant operates in. It discusses the type of market in which a franchise operate, the types of competition the firm faces, and how a firm can increase its market power. The explanation is given in 233 words.

    $2.19