Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
ECONOMICS CHAPTER 7, SECTION 3 QUESTIONS Please put your answers on a separate sheet of paper. Use the market for fast food to answer the following 1. Give a partial list of the firms in the fast food market (5-7 firms). 2. How are there few artificial barriers to the fast food business? 3. Why would a fast food restaurant have some control over their pricing? 4. How is a hamburger “different”? 5. List the methods of non-price competition fast food firms employ to get an advantage over their competition. 6. What two trends limit profits in a monopolistically competitive market? 7. Give examples of the “wide variety of goods” that people can choose from in the fast food market.