Mr Ho’s Chinese restaurant is in a small country town, 50km away from the next nearest Chinese restaurant and 30km from the nearest restaurant of any type. What type of market structure applies to Mr Ho’s restaurant? Select one: a. Monopolistic competition. b. Perfect competition. c. Oligopoly. d. Monopoly.
Mr Ho’s Chinese restaurant is in a small country town, 50km away from the next nearest Chinese restaurant and 30km from the nearest restaurant of any type. What type of market structure applies to Mr Ho’s restaurant? Select one: a. Monopolistic competition. b. Perfect competition. c. Oligopoly. d. Monopoly.
Chapter26: Monopolistic Competition And Oligopoly
Section: Chapter Questions
Problem 2E
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Mr Ho’s Chinese restaurant is in a small country town, 50km away from the next nearest Chinese restaurant and 30km from the nearest restaurant of any type. What type of market structure applies to Mr Ho’s restaurant?
Select one:
a. Monopolistic competition .
b. Perfect competition .
c. Oligopoly.
d. Monopoly .
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