--%>

Problem on Monopolistic Competition

When fifty fast-food restaurants belonging to fourteen various chains are strung along an eight mile stretch of highway, it is an illustration of: (1) a primitive cartel. (2) pure competition. (3) monopolistic competition. (4) an oligopoly.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

   Related Questions in Microeconomics

  • Q : Comparison of absolute intensity among

    The absolute intensity of one consumer’s preferences and tastes as compared to the absolute intensity of the other consumer’s tastes and preferences is as: (1) Dependent on the supplies of specific products. (2) Individually recognized in

  • Q : Marginal Productivity Theory about

    Differences into the demands for various resources, into the talents and kinds of labor people possess, within labor/leisure trade-offs, into inheritances, and by luck all play roles into explaining: (1) differences in income among individuals. (2) the term structure

  • Q : Price elasticity of demand among

    The price elasticity of demand as in below illustrated figure for DVD games among prices of $20 and $30 is about: (w) 1.00. (x) 25. (y) 1/25. (z) 1/2.

    Q : Competitive Markets and Labor unions I

    I have a problem in economics on Competitive Markets-Labor unions. Please help me in the following question. The purely competitive labor markets are not characterized through: (1) Most of the individual buyers and sellers of the labor services. (2) S

  • Q : Scarcity of good in market problem In

    In the market of papayas: (1) A scarcity exists at P2. (2) Papayas are a free good at P0. (3) Papayas are presently a scarce good. (4) Consumer’s demand prices equivalent P2 at quantity Q2. (5) Equilibrium price for papayas be P0.

    Q : Morphological attribute After the

    After the morula phase what is the subsequent stage? What is the morphological attribute which defines this phase?

  • Q : Annual total revenue of production When

    When Prohibition Corporation maximizes profit in its production of St. Valentine’s Day software, so annual total revenue of it will be around: (1) $140 million. (2) $250 million. (3) $320 million. (4) $420 million. (5) $1 billio

  • Q : Profit or loss in purely competitive to

    When the wholesale price P = $5 per dozen roses, this purely competitive rose farm maximizes profit through producing ___ dozen roses at a total (loss or profit) of $___. (1) zero; loss; $2000. (2) 2000; loss; $1500.

  • Q : Drop in interest rates of capital market

    Any drop in interest rates caused through people’s increased willingness to save, which will cause: (w) the rate of return schedule reflected in I0 to shift to the right. (x) the rate of return schedule reflected within I0 to shift to the left.

  • Q : Moral Hazard-Policies of promotion Can

    Can someone help me in finding out the right answer from the given options. The Moral hazards which produce shirking by employees can be partly remedied when firms adopt the policies of: (1) Efficiency salaries. (2) Hierarchical signaling. (3) Careful screening throug